The Companies (Corporate Enforcement Authority) Act 2021 (the “Act”) was signed into law on 22 December 2021 and, although not yet commenced, it is expected that a commencement order or orders will be made in early 2022. The primary purpose of the Act is to transform the Office of the Director of Corporate Enforcement into a statutory and independent agency (to be known as the Corporate Enforcement Authority or “CEA”) with additional resources to investigate and prosecute so-called white-collar crime. However, the Act also makes a range of changes to companies legislation generally, on which this briefing focusses.
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