§ Mr. Brightasked the Secretary of State for Trade and Industry when the measures to consolidate the Companies Acts will take effect; and, in the light of the consolidation, which statutory instruments he proposes to remake.
§ Mr. FletcherThe consolidation of the Companies Acts is due to come into effect on 1 April as proposed in the Bills currently before the House of Lords. However, the Government consider that users should be given a longer period to familiarise themselves with the new legislation before it comes into operation. The Government therefore propose to introduce amendments to all four Bills so that each would take effect on 1 July.
As regards subordinate legislation, the substance of some regulations has been incorporated in the consolidation, some will remain in force unchanged, some will be re-made to reflect the provisions of the legislation in its new form and some will be re-made for the convenience of users. The list of regulations we intend to remake has yet to be finalised but it will include the Forms Regulations, the Companies (Disclosure of Directors Interests) (Exemptions) Regulations, the Stock Exchange (Designation of Nominees) Order, the Unregistered Companies Regulations and the Companies (Disqualification Orders) Order.
The regulations will be re-made to coincide with the entry into force of the new legislation.