Archive for September, 2009

The Companies Act 2006

Tuesday, September 15th, 2009

companieshouseThe Companies Act 2006 is changing the law for companies.  These changes affect every company operating in the United Kingdom.  Passed in 2006, the Act reaches the final stage of implementation on 1st October 2009. (more…)

The Bankruptcy & Diligence Etc (Scotland) Act 2007

Tuesday, September 15th, 2009

walletThe above piece of Scottish legislation has fundamentally altered the law relating to both bankruptcy and diligence.   Insofar as bankruptcy is concerned, debtors will be automatically discharged from bankruptcy after one year (as opposed to the previous three year period) and, in addition, there has been introduced the concept of “bankruptcy restriction orders” which are similar to the company director’s disqualification regime where debtors will find themselves disqualified for a number of years from acting as directors and the like.   These orders are likely to apply where there has been unfit behaviour on the part of a debtor.   Further, any heritable property will automatically revert to a debtor after three years if the trustee has done nothing with it during that period.  (more…)

Five Point Guide to Starting Your Own Business

Tuesday, September 15th, 2009

newbusinessAccording to the Office for National Statistics, at the end of May 2009 there were 2.38 million unemployed people in the UK with the quarterly figures showing the largest increase in unemployed persons since comparable records began in 1971.  However, redundancy and poor employment opportunities have encouraged some to take the step to start up their own business.  Anyone doing so will probably have a good idea of the type of business they want to run, but may not be familiar with the legal and technical aspects of doing so.  There are five initial main points that anyone considering setting up in business should consider:- (more…)