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Business Law

The Department for Business, Innovation and Skills (BIS) is committed to fostering competitive markets in the UK, EU and worldwide. By fighting anti-competitive practices and promoting open markets, we enable companies to compete freely and fairly, giving UK consumers more choice and better value.

Two businessmen talking at a desk

Corporate Law and Governance (CLG) Directorate and Consumer and Competition Policy (CCP) Directorate work to ensure that businesses operating in the UK are supported by world class legal and governance frameworks, to promote open and competitive markets, and to encourage enterprise and efficiency to widen choice for the consumer and bring benefits to the UK economy.

CLG directorate is responsible for ensuring robust company law, governance and reporting frameworks.

Company and Partnership Law pages set out our recent work to modernise the company law framework - including details of the Companies Act 2006, which represented a comprehensive overhaul of the company law framework. Phased implementation of the Act was completed in October 2009, introducing significant changes to simplify and improve company law.

Corporate Governance - Effective corporate governance, the system by which companies are directed and controlled, should improve market confidence and the availability of investment funds.

Audit, Accounting and Reporting - Financial reporting, underpinned by accounting standards and regulations enables companies to fairly and consistently report their financial position and performance to investors. Audit is seen as key to capital market confidence, providing an independent check on companies' annual reports, assisting investors and lenders to make decisions that allow companies to raise the capital necessary for growth.

CCP directorate is responsible for the Competition Act, which prohibits abuse of dominant market position. They also cover UK and EC mergers and monopolies, EC and International competition policy and the regulation of specific markets. There are also sections on these pages on State Aid regulations and the Enterprise Act.

The Criminal Investigations and Prosecutions team contributes to the BIS key aim of delivering free and fair markets with greater competition for businesses, consumers and employees by taking action to deter fraud. They investigate and prosecute a range of offences, primarily related to personal or company insolvencies.

 

If you require further information concerning company law which is not available on this website please contact us using the following email address CLG Enquiries


 

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Latest news on Business law issues

Groceries Code Adjudicator Bill - 2012-13

Competition Commission Market Investigation on the Supply of Groceries in the UK

The Government's policy for the Groceries Code Adjudicator  (PDF, 153 Kb) 

Red Tape Challenge - Company and Commercial Law

Company law is under the spotlight as part of the government's Red Tape Challenge programme. For three weeks from 26th January the public is being asked to comment on the regulations associated with company law and tell us how we can improve the legislative framework. Details of the Red Tape Challenge and the regulations for company law can be found on the cabinet office website. To accompany this review we have today published a discussion paper entitled: Company Law – providing a flexible framework which allows companies to compete and grow (PDF, 146 Kb) 

Executive remuneration discussion paper

Update

On 23 January 2012, the Secretary of State for Business announced the Government’s next steps on tackling excessive executive pay.

The proposals bring taken forward will address this issue on four fronts:

  • Greater transparency so that what people are paid is clear and easily understood.
  • More shareholder power such as the introduction of binding votes, so they can hold companies to account.
  • More diverse boards and remuneration committees (REMCOs) to tackle the status quo.
  • Best practice led by the business and investor community

This follows on from the discussion paper published in September of last year (link below), which explored the issues surrounding executive remuneration, and a consultation on improving company narrative reporting.

Executive remuneration discussion paper

Registration of charges created by companies and limited liability partnerships

Following consultation in 2010, the publication of the Government response in December 2010, and subsequent discussions with stakeholders, the Department has published a document with a mock-up of Part 25 of the Companies Act 2006 as amended in accordance with the proposals. The document also includes revised cost assumptions for the Impact Assessment. Views are sought by 30 September 2011.

11-1108-revised-scheme-registration-of-charges-part-25 (PDF, 175 Kb)