Policy

Modernising company law

Issue

Business regulations are necessary to protect the public and workers from safety risks and prevent pollution and environmental damage, but they can also stop businesses from reaching their potential.

The government wants to reduce the number of unnecessary regulations that hold back businesses while ensuring that both workers and the public are protected.

Actions

The government is:

  • simplifying accounting and auditing for small companies
  • negotiating with the European Union to make accounting regulations more business friendly

Background

The implementation of Companies Act 2006 was completed in October 2009 and made many changes to simplify and improve company law.

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