which new parts of the act came into force in october 2007?
They include: • A statutory statement of directors’ duties sets out the duties and responsibilities of directors. • Statutory requirement for private companies to hold annual general meetings has been abolished, but continue with AGMs if you wish. • Making it easier for a private company to make decisions by written resolution of its shareholders. • Making it easier for shareholders make a derivative claim to sue directors on behalf of the company (for example for fraudulent management. • Allowing a holding company, if it wishes to seek authorisation from shareholders for political donations and expenditure through a single approval resolution which applies to the company and all its subsidiaries. The resolution need not specify the subsidiaries individually.
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