Companies Act FAQs:
What is changing?
Companies Act 2006, which is being implemented by Companies House on 1 October 2009, has altered some of the filing requirements for companies. This has presented an opportunity to resynchronise and improve the quality of the director data published by D&B, and may cause some changes to our products, scores and ratings.
For detailed information on the changes to your filing requirements, please contact Companies House (www.companieshouse.gov.uk) or your legal representatives.
What are the key changes to directors’ data?
From 1 October directors will have the opportunity to protect their home address. Companies House interpretation is that all directors’ usual residential addresses (URAs) will be protected. Therefore even if a director chooses to file only their home address, Companies House will deliver this as a service address.
Who has access to the protected directors’ information?
Only bodies such as the police, public authorities, government departments and Credit Reference Agencies (CRAs), as defined by The Companies Act 2006, will have access to this information. If you do not satisfy the criteria you will not get access. If you think you do satisfy the criteria, you should contact Companies House directly to discuss further.
Does D&B have access to the protected URA data?
Yes, but this will not be available to customers or the customer service team.
Will each director have their own service address?
It is entirely up to the director. They could choose their home address, the company’s registered address or even a PO Box. They can also have a separate service address for each company of which they are a director
Are D&B obliged to remove directors’ home address details from its database?
From 1 October all address details filed at Companies House will be assumed to be service addresses. D&B will reflect the data supplied by Companies House. If directors wish to amend or remove this information, they will need to contact Companies House directly and complete the relevant forms. D&B will only change directors’ information to bring it in line with Companies House.
When will the changes concerning directors’ service addresses take place?
The law comes into effect on the 1 October 2009. Previously registered URAs will become service addresses and remain as such until the director files the appropriate form.
Company secretaries are no longer needed, why is there one showing in this report?
Company secretaries are now optional. Existing company secretaries will remain in the Business Information Report until the appropriate resignation forms are filed at Companies House.
Is there a minimum age for directors?
As of 1 October 2008, the minimum age for directors has been 16.
What are the changes to the filing requirements for financial statements?
Limited companies will be required to file their financial statements within 9 months (rather than 10), while PLCs will be required to file within 6 months (rather than 7). These changes will not impact D&B’s scores and ratings until December 2009 for PLCs and March 2010 for Ltd companies.
Can D&B be confident that the parent link created will be correct as the address will no longer be held in the annual return?
There is a risk in creating a parent link without complete information. This risk has been highlighted through consultation with UK Department for Business, Innovation and Skills. To mitigate this risk, D&B have introduced a number of process enhancements, including: matching against existing parent; removing all but 100% confident automatic matches; and manual matching, including looking at associated companies.