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Reform of company law

Submitted on Thursday 4th August 2011

Published on Monday 15th August 2011

Current status: Closed

Closed: Wednesday 15th August 2012

Signatures: 2

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Petition Action

Reform of company law

Additional Information

I am calling on company law to be reformed and modernised in line with reasonable privacy expectations.

1. As a company director, I find it offensive and a breach of my privacy that I have to share my date of birth with companies house, who then by law distribute it to all and sundry on line without any checks as to who is accessing the data. This puts 3 million directors at risk of ID theft. A reasonable expectation is to have the same level of privacy here that my credit file has as a private individual. Only people who need access to the data should have access to the data.

2. Having to file an annual return is a bureaucratic overhead for a small company. I should not have to pay to tell you a company shareholdings haven't changed. Please drop the annual return and require large companies to inform you when substantial shareholdings change and drop the requirement for small companies to have to tell you at all.

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