A result of this legislation is that Companies House will have greater powers to query information, scrutinising for incorrect information and being able to reject information that is in correct or inconsistent.

There will be stronger checks for company names that are misleading to the public.

There will be changes to the requirements for registered information such as office addresses and supplying a registered email address.

There is a requirement on incorporation or annually to confirm that the company is formed for a lawful purpose and that future activities will be lawful.

Other steps are to be taken to “clean up” the register of inaccurate information and allow the inclusion of annotations to allow users to see if information may have potential issues.

Powers and frameworks to strengthen the fight against money laundering and to make sharing information more easy regarding suspected money laundering, fraud and other economic crimes

The act creates stricter rules and requirements on directors and persons of significant control as well as increase the tools available to combat money laundering and other forms of economic crime.

For further advice on Corporate / Commercial Law please contact us, our expert team advises businesses across all sectors, from long-established companies to enterprises that are just starting up.  Our team consists of commercial and corporate law solicitors with extensive expertise.

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