Contents: Company Law Memo 2010 Newsletter Issue 2 (March 2010)

Company Law Memo 2010 Newsletter Issue 2 (March 2010)

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COMPANY LAW MEMO 2010

Newsletter Issue 2

March 2010

In this issue…

Types of business and corporate structures

» EC consults on European Company (SE) legislation

Shares and share capital

» Companies House announce new fee

Dividends and distributions

» Consolidation of the law of corporation tax

Shareholders

» Relief from unfair prejudice awarded against company in administration

» Balancing exercise where shareholders both allege unfairly prejudicial conduct by the

other

Directors

» BIS evaluation of the new Companies Act

Company management and decision making

» BIS proposes changes to requirements for registering changes at Companies House

Company accounts

» Responses received on the ASB’s proposals for the future of UK GAAP

» Guidance for auditors on company accounts that have been tagged for XBRL purposes

» European co-operation on exchange of audit papers

Corporate restructuring and development

» Revenue and Customs proposes to simplify capital gains rules for group companies

» Is there any difference in the way a court should deal with solvent and insolvent schemes

of arrangement?

» City Code consultations

» Amendment to Rule 5.2 of the City Code

Litigation and investigations

» Publication of final sentencing guidelines for corporate manslaughter offences and

health and safety offences causing death

» First corporate manslaughter trial delayed

» Publicity of corporate manslaughter offences

Insolvency

» Focus on…: insolvency legislation consolidation and modernisation

» Co-operation between member states under the EC Insolvency Regulation

» US receivership not a “foreign proceeding” within the Cross-Border Insolvency

Regulations

» Changes to fees payable on presenting a winding up petition

» Insolvency Service consults on removing the requirements to file “no meeting” notices

» Procedure for bringing claims against insolvent companies’ insurers simplified

» The ambit of costs and expenses in an administration

» Insolvency Service’s second report on compliance with guidelines for pre-packs

» Pre-appointment expenses of administrators involved in pre-pack sales

Appendix

» Introduction of the new medical “fit note”

Disclaimer

This newsletter is provided on the understanding that the information contained within it is for guidance only, and that the publisher is not in business to provide legal or accounting advice or other professional services. Readers entering into transactions on the basis of, or otherwise relying on, such information should seek the services of a competent professional adviser.

While every care has been taken to ensure the accuracy of the contents, the editors and the publishers cannot accept responsibility for any loss occasioned to any person acting or refraining to act as a result of any statement in this newsletter.

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