Corporate directors: exceptions to prohibition
We’re asking for views on potential exceptions to the prohibition of corporate directors.
The Transparency and Trust reforms will improve the transparency of UK company ownership and control, and increase trust in UK business.
Some companies lack transparency because their directors are not people, but ‘legal persons’ (eg other companies). These are known as corporate directors.
Corporate directors will be prohibited in UK companies, with some exceptions. We are seeking views on circumstances where use of corporate directors of UK companies should be allowed. We’re specifically seeking views on situations where the use of corporate directors is of high value to the company and represents a low risk to corporate transparency.
We welcome views from all interested parties, including different types of company who may have a specific interest in using corporate directors.