英国公司法TheCompaniesAct2006

1、英国公司法TheCompaniesAct2006TheCompaniesAct2006(c46)isanActoftheParliamentoftheUnitedKingdomwhichformstheprimarysourceofUKcompanylaw.IthadthedistinctionofbeingtheIongestinBritishParliamentaryhistory:with1,300sectionsandcoveringnearly700pages,andcontaining16schedules(Thelistofcontentsis59pageslong)butith

2、assincebeensuperseded,inthatrespect,bytheCorporationTaxAct2009TheActwasbroughtintoforceinstages,withthefinalprovisionbeingcommeneedon1October2009.ItsupersededtheCompaniesAct1985.TheActprovidesacomprehensivecodeofcompanylawfortheUnitedKingdom,andmadechangestoalmosteveryfacetofthelawinrelationtocompan

3、ies.Thekeyprovisionsare:?theActcodifiescertainexistingcommonlawprinciples,suchasthoserelatingtodirectors'duties.?itimplementstheEuropeanUnion'sTakeoverandTransparencyObligationsDirectives.?itintroducesvariousnewprovisionsforprivateandpubliccompanies.?itappliesasinglecompanylawregimeacrossthe

4、UnitedKingdom,replacingthetwoseparate(ifidentical)systemsforGreatBritainandNorthernIreland.?itotherwiseamendsorrestatesalmostalloftheCompaniesAct1985tovaryingdegrees.且TheBillfortheActwasfirstintroducedtoParliamentas"theCompanyLawReformBill"andwasintendedtomakewide-rangingamendmentstoexisti

5、ngstatutes.LobbyingfromdirectorsandthelegalprofessionensuredthattheBillwaschangedintoaconsolidatingAct,avoidingtheneedforcross-referencingbetweennumerousstatutes.ThereceptionoftheActbythelegalprofessionsintheUnitedKingdomhasbeenslightlylukewarm.Concernshavebeenexpressedthattoomuchdetailhasbeeninsert

6、edtoseektocovereveryeventuality.旦Whereasacompleteoverhaulofcompanylawwaspromised,theActseemstoleavemuchoftheexistingstructureinplace,andtosimplifycertainaspectsonlyatthemargins.Inotherareas,itissaidtohavecomplicatedandobfuscatedpreviouslysettledlawandmaymakedoingbusinessmoredifficultforthoseoperatin

7、gsmallcompanies.Contentshide?1Implementation?2Directors?3Generalprovisions?4Privatecompanies?5Publicandlistedcompanies?6Contents?7Seealso?8Notes?9References10ExternallinkseditImplementationAsmallportionoftheActcameintoeffectonRoyalAssentinNovember2006.ThefirstandsecondCommencementOrdersthenbroughtfu

8、rtherprovisionsintoforceinJanuary2007andApril2007.TheimplementationtimetablefortheremainderoftheActwasannouncedinFebruary2007,byMargaretHodge,MinisterforIndustryandtheRegions.ThethirdandfourthCommencementOrdersbroughtafurthertrancheofprovisionsintoforceinOctober2007,andthefifth,sixthandseventhinApri

9、landOctober2008.Theeighthcommencementorder,madeinNovember2008,broughttheremainderoftheActintoforcewitheffectfromOctober2009.ThestaggeredtimetablewasintendedtogivecompaniessufficienttimetoprepareforthenewregimeundertheAct,ratherthanimplementingall1,300sectionsoftheActononeday.Anotherreasonforthestagg

10、eredimplementationisthat,despitetheAct'ssize,agreatmanysectionsprovideforsubsidiarylegislationtobebroughtinbySecretaryofState,whichhastakentimetodraft.ImplementationoftheActistheresponsibilityoftheDepartmentforBusiness,InnovationandSkills.editDirectorsMainarticle:BoardofdirectorsTheActreplacedan

11、dcodifiedtheprincipalcommonlawandequitabledutiesofdirectors,butitdoesnotpurporttoprovideanexhaustivestatementoftheirduties,andsoitislikelythatthecommorlawdutiessurviveinareducedform.Traditionalcommonlawnotionsofcorporatebenefithavebeensweptaway,andthenewemphasisisoncorporatesocialresponsibility.Thes

12、evencodifieddutiesareasfollows:1. S171toactwithintheirpowers-toabidebythetermsofthecompany'smemorandunandarticlesofassociationanddecisionsmadebytheshareholders;2. S172topromotethesuccessofthecompany-directorsmustcontinuetoactinawaythatbenefitstheshareholdersasawhole,butthereisnowanadditionallist

13、ofnon-exhaustivefactorstowhichthedirectorsmusthaveregard.Thiswasoneofthemostcontroversialaspectsofthenewlegislationatthedraftingstage.Thesefactorsare:1. thelongtermconsequencesofdecisions2. theinterestsofemployees3. theneedtofosterthecompany'sbusinessrelationshipswithsuppliers,customersandothers

14、4. theimpactonthecommunityandtheenvironment5. thedesiretomaintainareputationforhighstandardsofbusinessconduct6. theneedtoactfairlyasbetweenmembers3. S173toexerciseindependentjudgment-directorsmustnotfettertheirdiscretiontoact,otherthanpursuanttoanagreemententeredintobythecompanyorinawayauthorisedbyt

15、hecompany'sarticles4. S174toexercisereasonablecare,skillanddiligenee-thismustbeexercisedtothestandardexpectedof1. someonewiththegeneralknowledge,skillandexperieneereasonablyexpectedofapersoncarryingoutthefunctionsofthedirector(theobjectivetest)andalso2. theactualknowledge,skillandexperieneeoftha

16、tparticulardirector(thesubjectivetest)5. S175toavoidconflictsofinterest-methodsforauthorisingsuchconflictsbyeitherboardorshareholderapprovalarealsotobeintroduced6. S176nottoacceptbenefitsfromthirdparties7. S177todeclareaninterestinaproposedtransactionwiththecompany-therearetobecarveoutsformatterstha

17、tarenotlikelytogiverisetoaconflictofinterest,orofwhichthedirectorsarealreadyaware.Therewillbeanadditionalstatutoryobligationstodeclareinterestsinrelationtoexistingtransactions.Althoughthechangestodirectors'dutieswerethemostwidelypublicised(andcontroversial)featureofthelegislation,theActalsoaffec

18、tsdirectorsinvariousotherways:S239Theshareholders'abilitytoratifyanyconductofadirector(includingbreachofduty,negligenee,defaultorbreachoftrust)isregulatedbythestatute,althoughS239.7leavesthedooropenforcommoriawprinciples,previouslytheonlyguideonthis.UndertheAct,directorswhoarealsoshareholders,or

19、personsconnectedtothem,arenotentitledtovoteinrelationtoanyratificationresolutionconcerningtheiractions.Existingrestrictionsoncompaniesindemnifyingdirectorsagainstcertainliabilitieswererelaxedtopermitindemnitiesbygroupcompaniestodirectorsofcorporatetrusteesandoccupationalpensionschemes.SS261-3TheActg

20、aveshareholdersastatutoryrighttopursueclaimsagainstthedirectorsformisfeasaneeonbehalfofacompany(aderivativeaction),althoughtheshareholdersneedtheconsentofthecourttoproceedwithsuchaclaim.Certaintransactionsbetweenthecompanyanditsdirectorswhichwerepreviouslyprohibitedbylawhavebecomelawfulsubjecttothea

21、pprovalofshareholders(forexample,loansfromthecompanytoitsdirectors)TheActrequiresatleastonedirectorontheboardofthecompanytobeanaturalperson,althoughcorporatedirectorsarestillpermitted.Thecurrentagerestrictionof70fordirectorsofpubliccompanieshasbeenabolished.Anewminimumageof16hasbeenintroducedforalld

22、irectorswhoarenaturalpersons(S157).DirectorswillhavetheoptionofprovidingCompaniesHousewithanaddressforservice,whichwillinfutureenabletheirhomeaddressestobekeptonaseparateregistertowhichaccesswillberestricted.editGeneralprovisionsTheActcontainsvariousprovisionswhichaffectallcompaniesirrespectiveofthe

23、irstatus:Companyormation-theprocedureforincorporatingcompanieswillbemodernisedtofacilitateincorporationovertheInternet.Itwillbecomepossibleforasinglepersontoformapubliccompany.Constitutionaldocuments-acompany'sarticlesofassociationwillbecomeitsmainconstitutionaldocument,andthecompany'smemora

24、ndumwillbetreatedaspartofitsarticles.NewmodelarticlesforprivatecompaniestobemadeundertheActareintendedtoreflectbetterthewaythatsmallcompaniesoperate,andwillreplacetheexistingTableA.Existingcompanieswillbepermittedtoadoptthenewmodelarticlesinwholeorinpart.Corporatecapacity-underthenewActacompany'

25、scapacitywillbeunlimiteduniessitsarticlesspecificallyprovideotherwise,thusgreatlyreducingtheapplicabilityoftheultraviresdoctrinetocorporatelawandremovingtheneedforanexcessivelylongobjectsclauseintheMemorandumofAssociation.Executionofdocuments-Formalitiesforexecutionasadeedaretobefurtherrevised,sotha

26、tasingledirectorcanexecuteadocumentasadeedonbehalfofthecompanybyasimplesignatureinthepreseneeofawitness.Sharecapital-therequirementforanauthorisedsharecapitalwillbeabolished.Companieswillbeabletoredenominatetheirsharecapitalfromonecurrencytoanotherwithoutanorderofthecourt.Distributionsinkind-TheActa

27、ddressesthecurrentuncertaintyinthelawinrelationtothetransferofnon-cashassetsbyacompanytoashareholder,andwhetherthisshouldbetreatedasadistribution.型Shareholdermeetings-TheActenablesshareholdermeetingstobeheldmorequickly.Specialresolutionsnowrequireonly14days'noticeuniessproposedatanAGMShareholder

28、communications-TheActmadeiteasierforcompaniestocommunicateelectronically(e.g.byemailorbywebsite)withtheirshareholdersbyexpressagreement(whichagreementcanbeobtainedunderthearticles,orbytheshareholderfailingtoindicatethattheydonotwishtocommunicateviathewebsite,aswellasbymoreconventionalmethods).Audito

29、r'sliability-auditorsarenowpermittedtolimittheirliabilityforclaimsinnegligenee,breachoftrustorbreachofdutysolongas:otheshareholdershaveapprovedthelimitationinadvanee.othecourtconsidersthelimitationofliabilitytobe'fairandreasonable'且Thischangewasmadeafterintensivelobbyingbytheaccountingpr

30、ofessionintheUnitedKingdom.?CompanyNamesAdjudicator-Section69oftheActprovidesfortheappointmentofaCompanyNamesAdjudicator.ACompanyNamesTribunalwasestablishedon1October2008throughwhichtheCompanyNamesAdjudicatorwilladministerhispowersviatheUKIntellectualPropertyOfficeunderthetribunal.Section69hasexpand

31、edthegroundsunderwhichanypersoncanobjecttoaconflictingcompanynameregistrationundertheAct.editPrivatecompaniesMainarticle:PrivatecompanylimitedbysharesOneofthemoretoutedaspectsofthenewlegislationwasthesimplificationofthecorporateregimeforsmallprivatelyheldcompanies.Anumberofthechangesbroughtaboutbyth

32、eActapplyonlytoprivatecompanies.Significantchangesinclude:?Companysecretaries-aprivatecompanynoIongerneedstoappointacompanysecretary,butmaydosoifitwishes.?Shareholders'writtenresolutions-therequirementforunanimityinshareholders'writtenresolutionswasabolished,andtherequiredmajorityissimilarto

33、thatforshareholdermeetings-asimplemajorityoftheeligiblesharesforordinaryresolutions,or75%forspecialresolutions.?AbolitionofAGMsprivatecompaniesarenoIongerrequiredtoholdAnnualGeneralMeetings,althoughtheycanelecttoprovideforthemintheirarticlesiftheywish.?Shortnoticeofmeetings-privatecompaniescanconven

34、emeetingsatshortnoticewhereconsentisgivenbyholdersof90%bynominalvalueofsharescarryingtherighttovote.?Allotmentofshares-whereprivatecompanieshaveonlyoneclassofshares,thedirectorswillhaveunlimitedauthoritytoallotsharesuniessthearticlesotherwiseprovide.?Financialassistanee-theActabolishestheprohibition

35、onprivatecompaniesprovidingfinancialassistaneeforthepurchaseoftheirownshares,andtherelated"whitewash"exemptionprocedure.?Reductionofsharecapital-privatecompanieswillbeabletoreducetheirsharecapitalwithouttheneedtoobtainacourtorder.?Filingofaccounts-theperiodinwhichaccountsmustbefiledhasbeen

36、reducedfrom10monthsto9monthsfromthefinancialyearend.editPublicandlistedcompaniesMainarticle:PubliclimitedcompanyTheActalsoseekstopromotegreatershareholderinvoIvement,andanumberofnewrequirementsareintroducedforpubliccompanies,someoftheprovisionsofwhichonlyapplytocompanieswhosesharesarelistedonthemain

37、boardoftheLondonStockExchange(but,importantly,nottocompanieswhosesharesarelistedonAIM).?Businessreview-theActimposesadditionalrequirementsforcompanieslistedonthemainboardoftheLSEintheirannualreportandaccounts.Thesenowinclude:1. maintrendsandfactorslikelytoaffectfuturedevelopment,performaneeandpositi

38、onofthebusiness;2. informationonenvironmentalmatters,employeesandsocialissues;and3. informationoncontractualandotherarrangementsessentialtothecompany'sbusiness.?AGMhndaccounts-mainlistcompanieswillberequiredtoholdtheirAGMandfileaccountswithin6monthsoftheendofthefinancialyear.Theywillalsoberequir

39、edto:1. publishtheirannualreportandaccountsontheirwebsite;2. discloseresultsofpolledvotesatgeneralmeetingsontheirwebsite;3. givecertainminorityshareholderstherighttorequireindependentscrutinyofanypolledvote,theresultsofwhichmustbepublishedonthecompany'swebsite.?Politicaldonationsandexpenditure-t

40、heActcontainssimplificationandclarificationoftheexistingprovisionsrequiringshareholderapprovalforpoliticaldonationsandexpenditure,andclarifiesanumberofgreyareas(suchasexpenditurerelatingtotradeunions).?Enfranchisingindirectinvestors-nomineeshareholdersofmainlistcompanieswillbeabletonominatepersonson

41、behalfofwhomtheyholdsharestoreceivecopiesofcompanycommunicationsandannualreportsandaccounts.Allcompanieswillalsobeabletoincludeprovisionsintheirarticlestoidentifysomeotherpartytoexerciseadditionalrightsoftheshareholder.Thisistoaddresstheconcernthatsharesinpubliclylistedcompaniesarefrequentlyheldinan

42、intermediary'sname,whichmakesitmoredifficultforthebeneficialownersofthesharestoexercisetheirrightsasshareholder.Votingbyinstitutions-theActempowersthegovernmenttointroduceregulationsinthefuturethatwouldrequireinstitutionstodisclosehowtheyhavevoted.Thegovernmenthasindicateditwillonlyintroducesuch

43、regulationsafterfullconsultationandifavoluntarydisclosureschemedoesnotwork.Paperlesssharetransfers-theActgivesthegovernmentpowertomakeregulationsrequiring(aswellaspermitting)paper-freeholdingandtransferringofsharesinmainlistcompanies.Somelawfirmswho?haveexpressedreservationsastohowpaper-freeholdinga

44、ndtransferswouldworkinpractice.TransparencyObligationsDirective-theActbringsintoforcetheEuropeanDirectiveimposingobligationsonmainlistcompaniesinrelationtofinancialreporting,disclosureofmajoracquisitionsordisposalsofitssharesandthedisseminationofinformationaboutthecompanytoitsshareholdersandthepubli

45、cgenerally.TheActgivestheFinancialServicesAuthoritypowertomakerulestoimplementtherequirementsoftheDirective,whichwouldbeimplementedbywayofchangestotheexistingListingRulesandDisclosureRules.TheActalsointroducesastatutorycompensationschemeformisleadingorinaccuratestatementsinreports.Takeovers-theEUTak

46、eoverDirectivewasimplementedbyinterimregulationsintheUnitedKingdominMay2006.TheActextendsthestatutorybasisfortheregulationsinrelationtocertainmatters,suchasthestatutoryfootingoftheTakeoverPanel,andtheCityCodeonTakeoversandMergers.Italsoextendedthe"minoritysweepup"provisionswhichwereintrodu

47、cedbyanamendmenttotheCompaniesAct1985,andaddressescertainpracticalproblemswhichhadariseninrelationtotheiroperation.editContentsPart1Generalintroductoryprovisions,ss1-6Part2Companyformation,ss7-16Part3Acompany'sconstitution,ss17-38Part4Acompany'scapacityandrelatedmatters,ss39-52Part5Acompany&

48、#39;sname,ss53-85Part6Acompany'sregisteredoffice,ss86-88Part7Re-registrationasameansofalteringacompany'sstatus,ss89-111Part8Acompany'smembers,ss112-144Part9Exerciseofmembers'rights,ss145-153Part10Acompany'sdirectors,ss154-259Part11Derivativeclaimsandproceedingsbymembers,ss260-269Part12Companysecretaries,ss270-280Part13Resolutionsandmeetings,ss28