Companies Act 2006: A Guide for Private Companies (2nd edition)

Citation

Taylor, C. (2010), "Companies Act 2006: A Guide for Private Companies (2nd edition)", International Journal of Law and Management, Vol. 52 No. 3, pp. 244-245. https://doi.org/10.1108/17542431011044670

The recent full implementation of the Companies Act (CA) 2006 marks a significant milestone in the development of company law in England and Wales. Few aspects of the subject have remained untouched by the Act, widely recognised as the largest statute ever passed by Parliament, and the result has been a period of considerable uncertainty for those involved in the ownership and management of companies. Many directors and managers remain uncertain of precisely how the Act will affect them and such concerns are particularly acute for those involved in small (and not so small) private limited companies. Such companies generally lack the resources and expertise available to their public and listed counterparts and so are forced to wade through the quagmire of legislation largely unassisted. For the smaller company, any guidance on the new regulatory framework is to be welcomed and this is precisely what this text provides.

Now in its second edition, this text will be invaluable to those struggling to understand the impact of CA 2006 on their company. Concentrating on those provisions, which are of particular relevance to private companies, Van Duzer has produced an accessible and worthwhile resource for managers and directors which presents the changes in a form which is both simple and informative.

It is important to note, however, that this is probably not a text for the complete newcomer, as it does appear to assume some working knowledge of the fundamentals of company law under CA 1985. That means this is not an unreasonable expectation for those involved in the management of companies. Furthermore, the explanations are crisp and clear and so make even the more intricate provisions relatively simple to understand. This is no mean feat and provides the reader with a clearer appreciation of the implications for businesses in terms of the procedures, obligations and liabilities which they face.

In terms of content, the text addresses all of the areas of concern to a small company and its directors. The sections on directors and annual compliance are extremely informative and the chapter on event‐related compliance should prove particularly useful. In addition, chapter 12 provides an invaluable overview of the impact of the Act on existing companies which is certain to become a key source of both clarification and reassurance. The book also contains comprehensive tables of origins and destinations, enabling the reader to chart the staged implementation of the Act.

As with the first edition, a key attraction of this title is the clear and concise way in which the provisions are set out and their implications assessed. Stripped of theoretical background and exhaustive referencing, this is very much a “hands on” tool for busy professionals and succeeds in presenting often complex changes in a style which will be readily accessible to those who need it most.

In summary, this is a welcome second edition of this highly useful text, updated to keep up with the seemingly relentless pace of change in company law. As such, it represents a worthwhile investment for those charged with ensuring that their companies comply fully with the new regime.