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COMPANIES ACT GIVES NEW POWERS TO PROTECT MEMBERS' IDENTITIES

Under new rules introduced in the latest wave of Companies Act 2006 implementation, a company can now apply to the courts to protect its members from unwanted attention.

Jordans, the UK‘s biggest provider of professional business services and information to companies and their advisers welcomes the move, which could protect company owners from extremists.

Janis Law, Jordans‘ Chief Solicitor says: “These changes give company shareholders a significantly higher level of protection. Helping to protect them against pressure groups, animal rights activists and similar individuals who might use the information for improper purposes.”

Any company filing annual returns after 1 October 2007 will be able to make use of the new regulations.

Under the new laws, anyone wanting to discover the identity of a company‘s members will need to tell the company who is making the request and for what purpose, and a fee will be charged for the information.

On receipt of the request the company will have five days to either provide access to the register of members or to apply to the court for an order allowing it to reject the request. 

The court will decide if the request is indeed for a ‘proper purpose‘ and whether the applicant can have the information they have requested.  If the court makes the order, the person seeking access can also be directed to pay the costs of the court application.

“This move will be welcomed by companies,” adds Janis Law.  “There are many reasons why a company‘s owners may wish to remain anonymous, not least because they may be targeted by extremists.  Through this action, the government is finally taking steps to help protect the safety of those who might be at risk.”

From 1 October 2007, anyone who makes a false statement in order to discover this information could find themselves facing a criminal penalty.

“The new rules apply to any company that has filed its annual return on or after October 2007,” adds Janis Law. “But, any company not covered by the new legislation that wishes to secure this protection just needs to bring the filing of its next annual return forward, and then they too can seek protection through the courts.”

ENDS             2nd January 2008

For further information please contact Claire Sneddon, Sturgess Van Damme, on 01275 349011 or email claire@sturgessvandamme.co.uk

 Note to editors

• Jordans Limited has been providing professional business services for over 140 years. These services now include company formations and administration in the UK and internationally, business information and conveyancing support. 
• Jordans have been offering company formations for all of its 140 years.  As well as forming all types of companies, they provide software – Incorporator - for clients who undertake volume formations and PCSec, a software package which helps company secretaries administer their companies.
• Jordans have been providing international corporate services for many years. With offices in Bristol, London and five offshore locations (Jersey, Gibraltar, Cyprus, British Virgin Islands and Seychelles) Jordans Ltd is able to provide full UK and international support for their clients.  International services include setting up UK or offshore companies and trusts, company management and professional trusteeship.
• Jordans‘ business information services include company searches, data sales (either large or small batches of data on companies and directors) and three branded products – JordanWatch, a database of information and reports on companies, NameGuard, a company name-watching service, and KYC (Know Your Client) Reports used for anti-money laundering information. 
• Jordans Limited has been in the property search business for 30 years and has been offering online search ordering for several years.  Their service spans more than 70 different searches, ranging from all the standard searches, including local authority, drainage and environmental, to the many special requirements for individual properties and localities, such as searches for mining, transport and chancel repair.
• Jordans has over 100 years of conveyancing experience and is one of only three National Land Information Search channels providing local authority searches electronically. The company offers a comprehensive HIPs package, delivering all elements of the pack efficiently and within the quickest possible time.
• Jordans are committed to providing a first-class service and enjoy a reputation for quality, reliability and professionalism.