Companies Act 2006 - reminder of April 2008 implementation

For most companies, the only action required will be to continue to work closely with legal advisers to ensure full understanding of the timing and implications of the various changes.

In particular, companies should note that third parties will be able to enforce against companies any documents duly signed by a single director and witnessed (even if the company has internal rules and procedures requiring additional signatures, e.g. for higher value transactions).

Companies may wish to consider if breach of any internal signing rules should be made a specific and serious disciplinary matter; this may require changes to directors' employment contracts.