New Disclosure Obligations for Companies
New legislation which took effect on 1 January 2007 requires companies and limited liability partnerships to disclose additional information on their websites and on electronic communication documents such as emails.
Many businesses will not be aware of the new requirements as the regulations concerned [contained within The Companies (Registrar, Languages and Trading Disclosures) Regulations 2006] were only laid before Parliament on 21 December - thus giving firms very little notice.
Prior to the start of the year companies were already required to clearly disclose their name on most "official" documents including letters, notices and official publications, including financial documents such as cheques and bills of exchange and also on invoices, receipts and letters of credit.
Now, additionally, companies are required to disclose on their websites their name, place of registration, registered number and registered office details. Also this information is required on business letters and order forms whether or not these are sent in hard copy or via electronic means such as emails or faxes.
The penalty for non-compliance is a fine, which can be levied on any officer of the company or any person who authorised the issue of the non-complying document or website.
What to Do
Our advice to all companies and LLPs is to carry out an immediate review of their documentation to check that they comply or to make the necessary amendments as soon as possible. Specifically:
- Ensure your website (and any order forms used) includes the company name as registered at Companies House, as well as any trading names used.
- Check that your website includes your place of registration, registered number and registered office details.
- Check that email templates, fax front sheets and any other electronic templates also carry the required information.
Further Advice and Assistance:
For further information on these matters please contact Darren Edwards
Tel: 01903 706971
Fax: 01903 229163