The new Companies Act represents the most fundamental reform of company law for more than fifty years. The law on private companies will be comprehensively revised to make it easier to set up and run such a company. There is a new statutory definition of directors' duties and liabilities, and new draft models of association. Much of previous company law will be repealed or amended by the Act.

Key aspects of the legislation include:

• Small business - restructuring the law to make it easier and more cost-effective to operate a small company
• Promotion of shareholder engagement - enhancing powers available to proxies and increasing the rights of indirect investors
• Reform of the audit system to increase auditor liability and enhance audit quality
• Codification of directors’ duties
• Full statement of the law as it affects private companies
• Reform and modernisation of company law as a whole.

This timely book provides expert commentary on the key provisions of the Act, and how they will affect the practice of company law. It includes the full text of the Act.

About the authors:

Gary Scanlan is a solicitor and Reader In Law at City University London. His books on the Law of Limitation and Partnership with Professor Terence Prime have been cited in Law Commission Reports both in England and other Common Law Jurisdictions. His books and articles are frequently cited in the courts, including the House of Lords.

Andrew Harvey is a solicitor with many years' experience in the design and delivery of legal education and training. He currently lectures for Central Law Training on company and commercial law subjects. He was co-author of the textbook Business Law & Practice and its companion volume Business Law & Practice: Legislation Handbook.

Terence Prime is a solicitor and was formerly Professor of Law at the University of East Anglia. He is the author of many books including Law of Limitation (with Gary Scanlan) and Law and Practice of Joint Ventures (with Gary Scanlan and Sarah Gale).

Tunde Ogowewo is a solicitor, barrister (Middle Temple), and senior lecturer in law at King’s College London. He is the author of numerous articles and The Market for Corporate Control and the Investments and Securities Act 1999.

The Consultant Editor Mark Lewis is a partner in the corporate team at Wright Hassall and has particular experience in mergers and acquisitions, charities and other not for profit organisations, joint ventures, LLPs, and partnership law. He has been a contributing editor of Butterworths Company Law Guide.

1. Introduction; 2. Company formation; 3. Articles of association; 4. Duties and liabilities of directors; 5. Resolutions and meetings; 6. Accounts and reports; 7. Auditing; 8. Company shares and maintenance of capital; 9. Takeovers; 10. Miscellaneous.