In the second of our Companies House reform series, ahead of the Economic Crime and Corporate Transparency Bill (the “Bill”) which is expected to become law later this year, we examine the reform of the Registrar of Companies role.
Significant changes to the Registrar of Companies role remit
The powers of the Registrar of Companies will be broadened, so that its role changes from a passive recipient of information to an active gatekeeper and custodian of data.
Only the individuals whose identity has been verified by Companies House will be able to file documents at Companies House.
It is proposed that the Registrar of Companies will be able to:
- decline information submitted to Companies House if there are inconsistencies
- request additional information to determine whether the information has been property delivered
- cross-check data with other public and private sector bodies
- remove information which is already on the companies register
- substitute a director’s service address on the register with that director’s usual residential address
- strike off a company registered on a false basis; and
- share information with law enforcement bodies where there is evidence of anomalous filings or suspicious behaviour.
Mandatory maintained email address for all
The Bill introduces a requirement for all companies to maintain a registered appropriate email address to allow Companies House to communicate with the company via email to provide updates, notices and reminders.
If a company fails to maintain an email address without reasonable excuse, then an offence punishable by a fine will be committed by the company and every officer of the company in default.
In the final of our Companies House reform series, we will explore the new corporate offence of failing to prevent fraud.
If you would like a conversation to find out how we might help you if you have any questions in relation to the above, please get in touch with Aselle Djumabaeva-Wood.
