In the latest Red Tape Challenge businesses are being asked for their views about how to tackle the unnecessary bureaucracy in company and commercial law. It will focus on over 120 company law regulations, guidance and enforcement processes that businesses deal with on a daily basis. The campaign asks for a variety of suggestions about how regulations can be improved, simplified or abolished, whilst maintaining a company law framework that gives companies the flexibility to compete and develop effectively.
Examples of areas open for comment include:
- Internal workings of companies and partnerships: Rules on shares and share capital, requirement to hold information at business premises and rules on meetings and resolutions.
- Accounts and returns: The content, form and auditing requirements of financial accounts and other reports.
- Business names: The rules covering company names.
- Disclosure of company information: The regulations covering the information companies must supply to the official register.
