In the Government’s Small Business, Enterprise and Employment bill, currently before Parliament (and due for Royal Assent in March 2015), it proposes a prohibition on corporate directors. The Department for Business, Innovation and Skills has subsequently published a consultation paper highlighting its concerns and considers that companies with shares admitted on a regulated market should continue to be able to appoint corporate directors.
The consultation paper considers all forms of companies from small private limited companies to public trading companies. There are no proposed changes to the existing regime for LLPs.
The consultation closes on 8 January 2015.