Company Law Review Group - is it relevant?

As a CLRG Member (nominated by the Small Firms Association) you will not be surprised that I think the CLRG is extremely relevant. My fellow Members consist of representatives across a wide range of business interests such as legal, accountancy, business representative groups and trade unions.

In the past couple of years the CLRG was directly involved in the following Acts which have already entered the business lexicon and are examples of how business needs were heard by the Minister, reviewed by the CLRG and enacted by the legislature.

1. The Companies (Miscellaneous Provisions) (Covid 19) Act 2020 – a very timely and uniformly welcome piece of legislation that came into being in an unusually short timeframe. The Act enabled companies to have shareholders attend Annual General Meetings electronically. Electronic participation at meetings has rapidly become the norm in so many areas in a manner that would have been thought impossible four years ago.
   

2. The Companies (Rescue Process for Small and Micro Companies) Act 2021 – commonly known as SCARP the Act is intended to help viable insolvent companies to restructure debts and avoid liquidation.
   

3. The Companies (Corporate Enforcement Authority) Act 2021 – seen as a fresh start for what used to be the Office of Corporate Enforcement. Do not let the title of the Corporate Enforcement Authority put you off exploring its website where there are actually a surprising number of information guides to help companies, directors and members understand their roles and rights.

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