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26/01/07
The first provisions of the Companies Act 2006 to come into effect have been announced. The following measures come into effect on 20 January 2007:

1. the 'communications provisions' of sections 1143-1148 and schedules 4 and 5 of the Companies Act 2006. These allow all companies, public and private, to receive all documents and information under the Companies Act in electronic form if they agree to do so and to send all information and documents in the same form if the addressee, e.g. members, have agreed to receive the communications in that form. Individual members will remain free to receive information in hard copy if they wish. Some questions and answers on the implications of these measures are set out in a briefing document published by the DTI which is available on its website.
2. section 463, which provides for the liability of a company's directors to compensate the company for any untrue or misleading statement contained in its directors' report, remuneration report or summary financial statement (to the extent that it is derived from either of the preceding reports).
3. Part 22 of the Act relating to the power of public companies to investigate the ownership of its shares.

Further provisions of the Companies Act 2006 will come into effect in April 2007.

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