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Small business? Material changes to UK company law ahead

Overview

The Small Business, Enterprise and Employment Act 2015 materially reforms UK company law and therefore may have a part to play in influencing whether investors consider that "UK plc" is a welcome place to do business.


One of the the most controversial changes is the introduction of a central public registry of those individuals who have significant control of UK companies. 


As a number of commentators have noted and the UK Government itself expressed, the change to transparency of UK company ownership and control is significant and the UK is leading the way internationally.


The EU's Fourth Money Laundering Directive, echoing the PSC provisions in the UK's The Small Business, Enterprise and Employment Act 2015 , will amongst other things, oblige EU member states to maintain central registers listing information on the ultimate beneficial ownership of corporate entities. 

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