Changes to disclosure obligations

Companies risk fines due to failure to comply with disclosure obligations imposed by regulations which came into force on 1 January 2007, according to Garry Richards, head of Lanyon Bowdler's Company and Commercial Department.

Garry said, "Under the new regulations, companies, including limited liability partnerships, must clearly state their company registration number, place of registration and registered office address on their website. This information must also be included on order forms and business letters, which has now been extended to include documents in both hard copy and electronic form. This means that business letters sent electronically in the form of emails or faxes, must also include the relevant information.”

Garry advised, "Companies must take immediate action to comply with these changes as the penalty for non- compliance is a fine of up to £1000, which can be levied on any officer or agent of the company or any person who authorised the issue of the non- complying document or the website, as well as the Company."