A Reminder - Changes to UK Company Law
The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023 which introduced the biggest changes to Companies House since corporate registrations were established in 1844, gives Companies House the power to play a far more significant role in tackling economic crime, supporting economic growth, and making sure the UK is one of the best places in the world to start and grow a business.
Over time, the measures will lead to improved transparency and more accurate and trusted information on our registers. This will drive confidence in the UK economy, increasing the value of the register for businesses and citizens across the UK and beyond.
The measures include:
introducing identity verification for all new and existing registered company directors, people with significant control (PSCs), and those who file on behalf of companies
broadening our powers to become a more active gatekeeper over company creation and more reliable data
more reliable and accurate financial information on the register, which reflects the latest advancements in digital technology and enables better business decisions
providing Companies House with more effective enforcement powers, and increasing our ability to share relevant information with partners
enhancing the protection of personal information to protect individuals from fraud and other harms
Court of Appeal Clarifies Formalities for Signing of s.8 Notices and Prescribed Information
Written by David Smith - Partner JMW Solicitors
Court of Appeal clarifies formalities for signing of s.8 notices and prescribed information certificates for corporate landlords
The Court of Appeal (the “CoA”) heard the second appeal of Northwood Solihull v Fearn & Ors last week. The outcome of this case has serious implications for landlords, tenants and agents in England and Wales and possibly in recognition of this, judgment was handed down today only 8 days after the hearing. JMW acted for the landlord.
The main questions before the CoA in summary were:
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What is the correct way for a deposit prescribed information certificate to be signed by a landlord who is a company?
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What is the correct way for a section 8 notice to be signed by a landlord who is a company?
The CoA also considered what the consequences are where these documents are not signed in compliance with the relevant statutory provisions.
In summary, the following cheat sheet contains the practical essence of the CoA’s decision:
i. Possession notices and prescribed information certificates may be validly signed by an authorised individual on behalf of a corporate landlord or agent.
ii. These documents may also be signed in accordance with s.44 of the Companies Act 2006.
iii. Non-compliance with i. & ii. or other relevant statutory requirements does not necessarily invalidate the document and the effect of non-compliance will depend on the specific defect and factual context.