Get ready for Companies Act 2016

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. The Companies Act 2016, which took effect on 31 January, now comprises -

  2. Name two things businesses want from the legislative overhaul?

  3. How familiar are businesses about the company law reforms?

  4. Which sections are causing some businesses trouble?

  5. Name two of former rules that have been ditched in the current legislation?

  6. Since the new Act took effect, why have many set up as a company instead of sole proprietorships?

  7. What have businesses complained of in regard to the new Act?

  8. What are the implications for business owners and directors of the changes?

  9. What is another key aim of the CA2016?

  10. What is a key consideration for companies, particularly smaller companies?