《UK_company_law_review》.pdf

The UK’s Company Law Review Submitted by Jonathan Rickford, Project Director, The Company Law Review Company Law Reform in OECD Countries A Comparative Outlook of Current Trends Stockholm, Sweden 7-8 December 2000 In the Spring of 1998 the UK launched a major three year Company Law Review. The Review has been managed by an independent Steering Group, and has proceeded on a very open and consultative basis; its final report is expected in May 2001. On 30 November the Review published its latest major consultation document. The executive summary is attached, and the full text may be found on the internet at: .uk/cld/reviews/condocs.htm, where the other seven consultation documents from the Review may also be found. Jonathan Rickford, the Project Director for the Review, will be speaking at the second Panel session on 7 December. 4 December 2000 Copyright © OECD 2001 All rights reserved 2 EXECUTIVE SUMMARY 1 This consultation document takes forward the proposals on which we consulted in Developing the Framework, revising them in the light of responses and inviting further comments on a limited number of issues which emerged from the consultation. It also sets out proposals in areas not previously addressed in consultation, where views are sought across a broader range of issues. Chapter 2 2 Chapter 2 addresses the needs of small and private companies. It covers three areas: • the need to make the law accessible to all who use it, particularly those involved with small companies; • the specific proposals to simplify the company