In one of the biggest changes to corporate law for many years, the Economic Crime and Corporate Transparency Act finally received Royal Assent on 26th October 2023.
A key objective of the Act is to increase powers to tackle economic crime and improve the transparency of corporate entities in the UK.
The Act will expand the role of Companies House, transforming it from a document repository to a source of verified information. There will also be reforms to filing requirements for limited partnerships registered in Scotland, England and Wales.
The impact on Limited Companies and LLPs
Burness Paull’s market-leading Governance & Company Secretarial and M&A teams have put together a summary of known changes for Limited Companies and LLPs here.
Much of the detail around implementation of the Act will follow in secondary legislation which we expect to be available in the coming weeks and months, and we plan to share regular updates.
You can also subscribe to our weekly Go-Co-Sec Bulletin here, which is a round-up of news stories for UK governance professionals and company secretaries, and will include these updates.
If you have any questions, please get in touch.
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