Company Law Changes – COVID-19

Flexible measures until September 2020.

Annual General Meetings

The Government has recognised the difficulties that many companies face in the present crisis, where they have a legal obligation to hold Annual General Meetings (AGMs) and other meetings such as Member/Shareholder meetings. The requirement to meet conflicts with the present Government’s social distancing legislation and guidelines.

Failure to hold certain meeting has legal consequences for those in senior positions in some companies.

In view of same for the next few months, companies and other bodies will be able to suspend shareholders’ and members’ ability to attend meetings in person and instead convene meetings in a flexible way using technology. Alternatively postpone the meeting.

For example an AGM is scheduled for July 2020. This is the deadline for the AGM. This can be postponed until any date in September 2020 and/or it could be held with a restricted number of participants communicating virtually from different locations.

Companies House Filings

The Government is extending the time for Companies to file accounts, confirmation statements and details of relevant events such as a change in appointment of directors and registration of company charges.

Companies require an extension to their accounts filing deadline should apply to Companies House.

If you have any questions regarding the scope of the temporary changes or wish to discuss alternative options, please contact us 01892 773100