Legislation – Economic Crime and Corporate Transparency Act 2023
Changes to legislation:
There are currently no known outstanding effects for the Economic Crime and Corporate Transparency Act 2023, Section 25.
Changes to Legislation
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PART 1Companies etc
Business names
25Use of name that a company has been required to change
(1)
The Companies Act 2006 is amended as follows.
(2)
In section 1192 (application of this Chapter), at the beginning of subsection (1) insert “Subject to any express provision to the contrary,”
.
(3)
“Restrictions where a company has been required to change a name
1198AName that a company has been required to change
(1)
Where a relevant direction has been given to a company to change its name, or it has been ordered under section 73 to change its name, the company must not carry on business in the United Kingdom under the name that it was directed or ordered to change, except as mentioned in subsection (2).
(2)
Subsection (1) does not prevent the use by a company of a name if—
(a)
the period for complying with the direction or order has not yet expired,
(b)
the company complied with the direction or order and has since become registered with the name again following approval given under section 57B, or
(c)
the direction was given, or the order was made, before section 25 of the Economic Crime and Corporate Transparency Act 2023 came fully into force.
(3)
If a company uses a name in contravention of this section an offence is committed by—
(a)
the company, and
(b)
every officer of the company who is in default.
(4)
A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
(5)
In this section—
“company” includes an overseas company;