The new company law... What does it mean for you ?

With effect from 1 May 2019, a new Companies and Associations Code has come into force. Some 'highlights'....

What changes now?

• The number of legal forms will be reduced to four (Private Limited Company, Public Limited Company, Cooperative Society and Partnership)
• For newly incorporated companies, the change will take effect from 1 May 2019. For existing companies, a transition period is provided and the new CPR will apply from 1 January 2020 for the mandatory provisions subject to earlier application (opt-in). The articles of association must be amended by 31/12/2023.
• Minimum capital requirement abolished but don't forget the importance of the financial plan showing your capital requirement
• The NV may have one shareholder
• Greater freedom in voting rights scheme per share
• …..