Company Reform "Light Touch"

New Clauses to Keep Company Law Reform 'Light Touch'
DTI Press Release
3 May 2006
A package of measures to support the Government's overhaul of
company law was announced today by Industry and Regions Minister
Alun Michael. The measures include changes to: Directors' Duties;
Narrative Reporting; and Derivative Claims. As part of the
package, the Government will also clarify the position on
liability for disclosures under the Companies Act and for
implementation of the EU Transparency Obligations Directive. Draft
clauses on a proposed regime for liability have been issued today
for a short period of public consultation.