Small Businesses Risk Fines for Online Omissions
| Date Added: Wed March 14 2007 |
Many SMEs are failing to comply with the new Companies Act Regulations passed this year and run the risk of being fined. The Act states that UK companies must now display regulatory information on their websites, faxes and e-mails.
Technology lawyer, Richard Nicholas comments: ~The most likely approach of Companies House is to apply a fine to the most serious breaches of the regulations; for instance, where company details have been fraudulently left off an e-mail.~
Corporate websites must now include the following information by law:
1. the company name, together with any trading name where this is different;
2. the company's place of registration, registration number and registered office address;
3. an email address to contact the company;
4. details of membership of any trade or professional association;
5. where the business is being wound-up, a statement to that effect.
The good news, from a practical implementation point of view, is that, according to the DTI, the information does not need to be provided on each page of the website. Therefore they may appear in any prominent place. To comply fully, this information should also appear on any online order form. Corporate email is also not immune from the revised Act and must now include the first three items, much like a business letterhead. |
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