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Amendments to Companies Act effective November 1


BGIS

Amendments to Companies Act effective November 1

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THE REGISTRAR OF Companies has advised its clients that with the recent proclamation of the Companies (Amendment) Act, 2011-8, several amendments have been introduced with respect to the administration of companies without share capital.

The changes, which will take effect from Tuesday, November 1, include: a mandatory requirement of a minimum of three directors – Section 316; a requirement for the filing of a Notice of Change of Directors within 15 days of the change – section  316;  and  a  penalty of $100 per  day for  failing to  file  Notice  of  Change with the Registrar within the prescribed time – Section 316.

To review the full text of the Companies (Amendment) Act, 2011-8, persons may visit the website at www.caipo.gov.bb. (BGIS)

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