What Does this Mean for Employers? Providing employees receive 20 days holiday entitlement per year and do not work on public holidays there is no change, as the new minimum holiday entitlement is inclusive of public holidays.

Any employer whose staff have less than 24 days holiday entitlement including bank holidays are obliged to increase this. Employers also have a duty to inform staff of any increase in holiday entitlement through either a letter or a short statement, for example on a pay slip.

Companies Act 2006 - Oct 2007 Implementation

The Companies Act 2006 was enacted following a review of company law in the UK. One of the major changes under the Companies Act is that four of the seven directors' duties are now codified for the first time (the other three are still awaiting commencement and remain under common law). Other changes involve shareholder written resolutions, AGMs and statutory company registers.

Shareholder Written Resolutions: Whilst private companies have been able to make use of written resolutions for some time, they could only be passed with unanimity. With the new Companies Act it is now only necessary to secure the agreement of members representing 50% (for ordinary resolutions) or 75% (for special resolutions) of the total voting rights of eligible members. . General Meetings: With effect from 1st October 2007, private companies are no longer required by law to hold an AGM. Previously private companies were able to pass an elective resolution to dispense with an AGM, but with the new Companies Act there is no statutory requirement to hold AGMs although a company may decide to hold them.

Statutory Company Registers: The Companies Act 2006 removed the obligation to maintain a Register of Directors Interests as of 1st April 2007. The register must now show a service address rather than a residential address. Companies must now also keep a Register of Directors' Residential Addresses.

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