The lowdown: Companies Act 2014

The Companies Act 2014 commences on June 2. All companies and directors will be affected. The purpose of the legislation is to modernise company law and to reduce the administrative burden on business.

It presents an opportunity for companies and businesses to operate more efficiently, but also places a greater responsibility on directors.

The Companies Act 2014 creates seven new company types:

 Private Company limited by shares (LTD)

 Designated Activity Company ...