Blog - 02/07/2020
Covid-19: Key takeaways from The Companies etc. (Filing Requirements) (Temporary Modifications) Regulations 2020
In its latest bid to provide some breathing space for companies affected by the Covid-19 pandemic, the Secretary of State has recently issued The Companies etc. (Filing Requirements) (Temporary Modifications) Regulations 2020 (hereafter “2020 Regulations”) which came into force on June 27, 2020.
The 2020 Regulations temporarily extend various filing deadlines which must be met by companies (as prescribed under the Companies Act 2006), eligible Scottish partnerships, limited partnerships, limited liability partnerships, unregistered companies, overseas companies, Societas Europaeas and European Economic Interest Groupings (“relevant entities”).
The explanatory memorandum to the 2020 Regulations explains that the modifications to the Companies Act 2006 include the extension of:
- The accounts filing deadline, which is extended by 3 months, to 12 months for private companies and 9 months for public companies.
- The 14 day deadline for the annual confirmation statement after the end of the company’s year-long confirmation period, which are extended to 42 days.
- The 14 day deadlines for submitting notices of relevant events after they occur, which are extended to 42 days. Readers will be reminded that examples of relevant events include a change of director or person with significant control over the company.
- The 21 day deadline for registering a charge against a company’s assets, which is extended by 10 days to 31 days.
Companies should note that these modifications are temporary in nature and are set to expire by close of business on April 5, 2021.
In addition, the 2020 Regulations also extend filing periods under the Limited Partnerships Act 1907, the Companies Act 1985, the Limited Liability Partnerships Act 2000, the European Public Limited-Liability Company Regulations 2004, the Overseas Companies Regulations 2009 and the Scottish Partnerships (Register of People with Significant Control) Regulations 2017.
For further information on this development please contact Russel Shear or any other member of our Corporate & Commercial team.
To review our previous Covid-19 updates, please click here.
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Please note that this blog is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content of this blog.
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