Robert Lee Archive

Share farming: a practical solution to succession worries

The 2014 Oxford Farming Conference predicted that the next decade would see an increase in share farming as the shape of the industry changed, with “a divergence between those owning land and those farming (operating) it”. The CLA’s 2014 report into share farming endorsed the view that it could, in the right circumstances, be a good solution for many farmers looking to reduce their workload but with no one to help them do so.

Directors’ Duties are now enshrined in law

The most significant change to the Companies Act was the codifying of Directors’ Duties for the first time. These statutory duties replaced common law principles relating to the conduct of directors, both executive and non-executive, based on seven main requirements, the purpose of which was to introduce higher standards of conduct and management within business.

Bespoke articles and shareholder agreements for companies

In the absence of a written shareholders’ agreement, the relationship between the shareholders of a company is governed by the company’s articles of association, the Companies Act 2006, case law and certain other relevant pieces of legislation. The default provisions under the articles of association and company law may not always be suitable for all companies and very often a formal written shareholders’ agreement is desirable, or necessary, to vary certain of the shareholders’ rights and obligations.

Trading disclosure regulations - displaying your company name

New trading disclosure regulations came into force on 1 October 2008, replacing existing requirements and introducing some important new duties and some changes to the existing law. A company (other than a dormant company) must display its registered name at its registered office, and any inspection place, as well as any location where it conducts business (unless that location is primarily used for living accommodation). The registered name must be visibly obvious to any visitor to the premises.
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