ChanLegal.com
Title
James Chan & Co - Company Law, Commercial Law, Litigation, Employment Law; Shipping Law Solicitors London EC4
Description
Excerpted from the website:
- The Companies Act 2006 became law on 8 November 2006 with all parts of the Act expected to come into force by October 2008. The new law will affect UK commercial companies, their directors, shareholders, corporate structure or constitution, share capital, directors' responsibilities, shareholders rights, conduct of meetings, communications, corporate governance and legal compliance. Main changes include a statutory code of directors' duties and liabilities, provision for derivative action by shareholders against directors and third parties who have benefited from the directors default, negligence or breach of trust, company communications with shareholders and directors allotment of shares in single class companies without shareholder authority, subject to the company articles of association - see the new 1,300 Sections and 16 Schedules in the Companies Act 2006. The flexibility provided to shareholders will be useful in cases involving shareholders' rights, interests and directors' corporate mismanagement.
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