Company law

This will enable corporation to give back cash to shareholders much more rapidly and cost efficiently. Moreover, under the solvency declaration process creditors have no right to object. Managers will definitely need to reflect on the creditor position and cash flow solvency of the corporation very cautiously and will desire at the very least to reflect on up to date administration accounts and may even necessitate some backing from its auditors. (www. brokes. ac. uk/) Objection to company names According to the law, from 1 October, it was probable for anybody and not only a corporation to object to a corporation’s name.

Indeed, there are some major changes that were made by the Company Act-2006. These changes were made to make sure that they replicate current needs so that it is easier to set up and run a corporation both at the present and in the future. These changes have greatly, sometimes directly and other ways indirectly, helped in the formation, promotion and management of the company. Some of these changes include: (Keenan & Riches, 2007, p. 78) though, the following work dwells in most of these areas of change, it would mainly concentrate on the director’s duties and the articles of association.