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Podcast Location:
Sorry, this podcast has been removed as it is now out of date
Law Categories:
Company Law
CPD Points:
Up to one point - details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority / ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain ½ an accredited CPD point (30 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
Standard rate: £25+VAT - Corporate users will pay less.
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This course is aimed at practitioners seeking to understand the principles, provisions and practice involved in reducing the capital reserves of a limited company and seeking to understand the impact of the Companies Act 2006 on this process, in particular the innovative procedure allowing private companies to reduce their share capital without needing the approval of the Court. This podcast is suitable for beginners and intermediate listeners as well as more advanced listeners seeking to update their knowledge or understand the recent changes to the law and the procedure.

Outcomes:
After completing the course you will:
  • Understand the statutory requirements and the principles behind them;
  • Understand how the principles work in practice;
  • Understand the details of the Court procedure;
  • Have learnt about the changes introduced by the Companies Act 2006;
  • Have received an update on the changes to the practice and procedure of the Court introduced by the Practice Direction which took effect on 1 October 2007.
Level:
Intermediate Difficulty: of 5
Classification:
Legal Principles
Practical Guide
Procedural
Sources and References:
  • Companies Act 1985, sections 135-139;
  • Companies Act 2006, sections 641-654;
  • Companies Court Practice Direction October 1st 2007.

In this CPD podcast, we interview Andrew Thornton of Erskine Chambers and Sara Watson of Ashurst in relation to the principles, practice and procedure involved in undertaking a reduction of capital. The discussion covers both the position under the Companies Act 1985 (which will remain in place until October 2008) and the position under the Companies Act 2006. This CPD podcast looks at the circumstances in which a reduction of capital can be employed, the limits on the types of company which can use the process and the circumstances in which the Court is prepared to confirm a reduction of capital. The Court procedure is considered in detail, in particular the issue of creditor protection. The impact of the recent Companies Court Practice Direction is taken account of, in particular, the changes to the procedure introduced by it.

The contributors set out the details of the self-help procedure for private companies introduced by the Companies Act 2006 and identify a number of limitations on that procedure. This CPD podcast is suitable for practitioners who have no experience of the capital reduction process as well as those seeking to develop their intermediate knowledge.

Podcast Added: 27/11/2007

This podcast has now been removed from the site. It is no longer suitable for CPD purposes as it contains information that is out of date or incorrect. For a list of our latest CPDcasts, please visit the library.

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