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A White Paper, "Modernising Company Law" was presented in July 15th 2002 by the Secretary of the State for Trade and Industry setting out the Government's proposals for simplifying and modernising Company law.
The present framework over UK Company law was not the product of judge-made common law but mostly the result of parliamentary reform mechanisms, of committees and of political and commercial pressure groups. Though, these alterations took place through a series of partial reviews and piecemeal changes, making it a lot complicated. It is written in a way which makes it particularly difficult to identify those provisions which apply to smaller companies...
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