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What does “A private company can opt out of maintaining separate private registers” mean?
I’m a bit confused because private companies must always have a registration certificate.
Thank you sir
There is an expression related to companies “statutory books”
There are registers that the company law requires each company to maintain
There are a number of these registers the most important of which are the Register of Members, the Register of Directors and (probably) the Register of Mortgages and Charges
But such is the nature of most private companies that there are very, very, very few changes in the details that need to be recorded in those registers
So the most recent Companies Act has introduced the concept that small, private companies are allowed to opt out of the unnecessary burden of maintaining these registers
OK?
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