Partner Article

Red Tape Challenge to focus on Company Law

The next stage of the Government’s ‘Red Tape Challenge’ begins today, and focuses on Company Law.

Dr Roger Barker, Head of Corporate Governance at the Institute of Directors, and Danielle Stewart, partner at Baker Tilly, have been selected as ‘Company Law Champions’ to lead the way.

As Champions, Dr Barker and Mrs Stewart will assist the Government in evaluation of the public’s proposals and will support any ideas that could lead to a simplified and more business-friendly legal framework.

For the next three weeks, the IoD will work with members and the wider business community to consider ways in which company law regulations can be improved, simplified or abolished.

Those areas of company law to be addressed include: internal workings of companies and partnerships, accounts and returns, business names and disclosure of company information.

Commenting on his new role, Dr Baker said: “The Red Tape Challenge is an excellent opportunity for companies to get their voice heard and help inform government thinking and policies.

“Companies need to spend time on doing business, creating jobs and growing, not spending time filling in forms for no good reason.

“We must be sure that regulation is proportionate and that the company law framework protects companies and their creditors, whilst minimising red tape and making the running of a company as simple as possible.

“I look forward to seeing some new and exciting proposals from business to help inform this important work.”

Mrs Stewart added: “I am very excited by the opportunity to be an official Red Tape Challenge Champion, because I have been deeply involved in the development of better, more appropriate regulation since the early 90’s.

“As a practicing Chartered Accountant, I have often seen smaller businesses in particular struggle with the weight and complexity of bureaucracy applicable to them.

“Here in the UK, we have led the world in the development of differential accounting standards; we already have a ‘think small first’ approach to Company Law embodied in the 2006 Companies Act.

“Against this backdrop, The Red Tape Challenge represents an opportunity to go the final mile towards ensuring that every aspect of regulation applicable to UK companies is necessary, appropriate and is as efficient as it can be.”

This was posted in Bdaily's Members' News section by Tom Keighley .