Kate Gee and Paul Brehony, partners at Signature Litigation, question whether Companies House has the resources to become a much more proactive gatekeeper under ECCTA rules
The powers of Companies House, the body responsible for corporate governance in the UK, were recently extended by the Economic Crime and Corporate Transparency Act 2023 (ECCTA) substantially amending parts of the Companies Act 2006. The changes were set in motion last month, and as soon as the Act became effective, it was immediately put to the test.
According to the Home Office, the ECCTA will be central to ‘driving out dirty money from the UK, strengthening the UK’s reputation for supporting legitimate business to thrive ’.The Act introduces new requirements for companies registered in England and Wales and how they interact with, and submit information to, Companies House.
In essence, the Act enables it to investigate, challenge and even remove information that is provided.
