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New changes to the UK Companies Act


				21.02.2024
						The first package of amendments to the Companies Act will come into force in the UK on March 2024. The amendments were adopted within the framework of the Law "On Economic Crime and Corporate Transparency" back in 2023. The new rules will apply to all companies, both already registered in the United Kingdom and planned for registration.

The company's registration address. From March 4, 2024, new rules for registered addresses of companies will come into force, obliging them to have a physical and valid registered office. Any documentation that needs to be delivered to the company will no longer be able to use the mailbox as a registered address. However, they can use the address of a third-party agent, provided that it meets the specified requirements. In case of violation of this requirement, the UK Registration Chamber may exclude the company from the corporate register.

Registered e-mail. Also, starting from March 4, all registering companies must specify an up–to-date email address, and existing ones must enter data about it before March 5. The specified email address will be used to send official correspondence and must be current and valid. The information about the email address will not be available for public use.

A statement of a legitimate purpose. When registering a company, the founders must prove the legality of its intended activities in a confirmation statement. If the information is not confirmed, this may lead to a refusal to accept documents, and appropriate measures will be applied to companies recognized as illegal. Existing companies will be required to provide a statement of legitimate goals at the next annual report from March 5, 2024.
Link to the source: https://www.gov.uk/government/news/first-changes-to-uk-company-law-expected-on-4-march

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