New Regulation Updates
Tuesday, August 19th, 2008 at 9:20 am
The following changes and updates come into force on 1st October, affecting all sizes of business.
Extending consumer cancellation rights to “doorstep” contracts made with traders during solicited visits.From 1 October 2008, a cooling-off period and cancellation rights will apply to more goods and services contracts.
New national minimum wage rates – October 2008
From 1 October 2008, the national minimum wage for eligible workers will increase.
Companies Act 2006 accounts and audits - application to limited liability partnership provisions
From 1 October 2008, the company law provisions on accounts and audit will apply to limited liability partnerships.
Large and medium-sized limited liability partnerships – changes in form and content of accounts
From 1 October 2008, accounts and audit requirements will be re-stated with some changes for medium and large LLPs.
Small limited liability partnerships – changes in the form and content of accounts
From 1 October 2008, accounts and audit requirements will be re-stated with some changes for small LLPs.
Reminder: Changes in consumer credit licensing, information and other provisions
From 1 October 2008, lenders must provide consumers with regular prescribed information about their credit accounts.
Changes in shareholder information in the annual return
From 1 October 2008, new rules state whether or not to include shareholder names and addresses in annual returns.
Mandatory company trading disclosures
From 1 October 2008, companies must disclose their names and other information at given locations or upon request.
Changes to trade marks and trade mark application processes
From 1 October 2008, new requirements and methods will apply to trade mark processes and applications.
Estate agents – mandatory redress schemes membership
From 1 October 2008, estate agents doing residential estate agency work must belong to an approved redress scheme.
An optional new route for private companies to reduce share capital
From 1 October 2008, private companies will be able to use a new solvency statement route to reduce share capital.
