Companies Act 2006 Explanatory Notes

This Chapter restates the 1985 Act’s provisions regarding overseas branch registers. It enables companies in specified circumstances to keep in a specified country or territory a register of those members resident in that country or territory. An overseas branch register is deemed to be part of the company’s register of members. This section replaces section 355 of the 1985 Act and implements the CLR recommendation (Completing the Structure, paragraph 5.41) in making clear that shares need not first be issued in registered form, but can be issued directly in warrant to bearer form. The application for re-registration as an unlimited company must be accompanied by a statement of compliance .

Nor does it apply to any insurer authorised in any other EEA State carrying on business in the UK if it complies with equivalent rules of its home State. Whilst there is no requirement in the Act to create a statutory reserve following such a reduction, we understand that it is usual for companies to create an accounting reserve in these circumstances to “balance the books” . Owing to the technical nature of the rules that will need to be made this issue will be dealt with in secondary legislation. An order made under section 654 will however be subject to the affirmative resolution procedure – that is, the regulations will need to be approved by both Houses of Parliament.

1 Which pipeline systems this part of the notice covers

This section enables the registrar to notify a company of an apparent inconsistency in the information on the register. An example might be where a document is received notifying the removal of a director where there is no record of his appointment. In such circumstances, https://azbigmedia.com/real-estate/how-do-real-estate-accounting-services-improve-clients-finances/ the registrar may give notice to the company requiring them to resolve the inconsistency within 14 days by providing additional or replacement documents. This section sets out a number of exceptions to the above rights to inspect and copy material on the register.

Except where the warehouse is adjoining a producer’s premises, we do not usually approve installations with less than 1 million litres storage capacity. Class B — the entry should contain a description of the plant and vessels used in the production and processing of the fuel. The entry should identify all buildings and places construction bookkeeping in which duty-suspended fuel is handled. Class A — the entry may be limited to a general description of the plant and vessels to be used for the production, processing, and storage of the fuel. We will also consider applications from existing producers to extend their activities to include the recovery of waste fuel.

12 VAT implications for warehoused LPG

New section 446D provides that, if an inspector resigns, dies or has his appointment revoked, the Secretary of State has the power to appoint a replacement inspector to continue the investigation. Any appointment which takes place under new subsection will be treated as though it were made under the provision under which the former inspector were appointed (new section 446D). New section 446B confirms that the scope of the term “investigation” will include any investigation undertaken under section 433 into the affairs of the company’s holding company or subsidiary . New section 446A confirms that the scope of the term “investigation” will include any investigation undertaken under section 433 into the affairs of the company’s holding company or subsidiary .

Includes estimates of produced assets used in the production process and their loss of value over time. The second main development plan is the non-financial assets transformation project, which is included in the National Accounts Improvement Programme . We produce estimates of gross capital stock, net capital stock and consumption of fixed capital https://www.archyde.com/how-do-bookkeeping-and-accounting-services-affect-the-finances-of-real-estate-companies/ by asset, industry and sector in current prices, chained-volume measures and previous year’s prices. Shippers must enter the debit or credit adjustment of quantity and duty for each description of oil as shown on return B in the duty deferment account at the central accounting point in the period in which the last day of the return falls.