After my earlier introduction and summary of the new Companies Bill, I will be writing a series of articles on the new Companies Bill. I aim to release an article every few weeks or so, touching on the different areas of the new law. For ease of reference, I will continue to refer to it as the Companies Bill and insert the clause references in brackets.
I kick off this series by focusing on 3 things existing companies should already look out for under the Companies Bill. While the Companies Bill may only come into force in the next 6-12 months or so, I highlight 3 areas companies should start preparing for right now.
In summary, these 3 areas are:
- Your existing Memorandum and Articles of Association: Do you need to fine-tune the provisions?
- The new law will shift to a no-par value regime: Impact on your existing share premium account.
- Putting in place checklists and guidelines for the new internal processes.