IFA-Rep-1_21-Response-to-Consultation-on-Powers-of-the-Registrar.pdf

Here are the key points from the IFA representation:

Introduction

• The Institute of Financial Accountants (IFA) is a professional body that represents financial professionals
• The IFA has responded to a consultation on changes to the company register and directorship records

Key Points

1. Reducing the response period: Supports reducing the 28-day response period for applications to remove information from the register.
2. Digital delivery: Believes that digital delivery of company documents should be mandated, with assistance provided for those without digital access.
3. Register of Directors: Sees no issue with removing the requirement for companies to keep their own Register of Directors, as it will improve the integrity of the public register.
4. Election regime for private limited companies: Supports reducing administrative burden and duplication by considering changes to the election regime.
5. Default address: Believes that a default address should be allowed in certain circumstances, with limits on how long a company can remain at this address (e.g., 12 months).
6. Sanctions for non-compliance: Supports introducing sanctions for companies that fail to rectify their default address or maintain accurate directorship records.
7. Digital assistance: Believes that digital assistance should be provided to help companies and individuals with limited digital access.

Conclusion

The IFA's key points focus on reducing administrative burden, improving the integrity of the public register, and providing digital support for those who need it.