All companies

• The statutory statement of directors’ general duties makes the well established law in this area more accessible and brings it into conformity with modern business practise.
• Companies will be able to make greater use of electronic communications with shareholders.
• Liability for reports to the market has been clarified.
• Directors will automatically have the option of filing a service address on the public record (rather than their private home address).
• There will be improved rules for company names.
• Companies will no longer be required to specify their objects
• The company memorandum will become a formal document recording the position at the point of registration with just the articles being the continuing constitutional document.
• Shareholders will be able to agree limitations on the liability of auditors.