ECCT Act Empowers Companies House with New Authorities

ECCT Act. Companies House rolls-out new powers.

The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday, March 4, 2024.

Changes introduced include:

• greater powers to query information and request supporting evidence;
• stronger checks on company names; 
• new rules for registered office addresses (all companies must have an appropriate address at all times – they will not be able to use a PO Box as their registered office address); 
• a requirement for all companies to supply a registered email address;
• a requirement for subscribers to confirm they’re forming a company for a lawful purpose when they incorporate, and for a company to confirm its intended future activities will be lawful on its confirmation statement;
• greater powers to tackle and remove factually inaccurate information; and
• the ability to share data with other government departments and law enforcement agencies.

New criminal offences and civil penalties will complement the measures introduced.

The phased rollout of new powers and requirements is designed to minimise hassle for legitimate businesses. Many of the changes will be integrated into existing reporting cycles, such as the requirement to update a company’s confirmation statement.

As further measures are introduced, Companies House will communicate via its communications channels and campaigns to people who file information with it what they need to do.