Consultations on Proposals to amend the Companies Act 2014
On 8 May 2023 the Minister of State for Trade Promotion, Digital and Company Regulation launched a public consultation on proposals to enhance the CA2014.
This consultation is seeking views on a proposed Companies (Corporate Governance, Enforcement and Regulatory Provision) Bill 2023 which will focus primarily on 4 areas of company law – corporate governance, company law enforcement, company law administration and corporate solvency.
Two particular issues on which views are being sought are:
- amending the audit exemption regime for small and micro companies to remove automatic loss of audit exemption and put in place a two- step graduate procedure to deal with late filings; and
- provide companies with the option to hold fully virtual AGMs and general meetings on a permanent basis.
Views from interested parties are requested by no later than 5pm on 9 June 2023 and further updates will be provided as available.
