The Government has delayed the introduction of some of the remaining provisions of the Companies Act 2006, a wide-ranging overhaul of UK company law, it was announced today.

Speaking at a Confederation of British Industry (CBI) conference in London, Stephen Timms, the Competitiveness Minister, said that aspects of the Act relating to Companies House, the central registrar for company information, would be delayed until October 1, 2009.

They had been scheduled to come into force on October 1 of next year but Mr Timms acknowledged there was a “clear risk of slippage”.

"We need to make sure the necessary changes to the Companies House systems and processes are in place before we bring the final provisions of the Act into force,” Mr Timms said.

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All companies are required to file accounts, details of directors and shareholders and other information to Companies House.

Although the delay is limited to specific provisions relating to Companies House, the Department for Business, Enterprise and Regulatory Reform (BERR) said the delay could spread to other areas of the Act.

In a statement, the BERR said it would “be seeking the views of business to see whether some provisions of the Act can still come into force in October next year”.

Mr Timms reminded delegates at the CBI conference that thanks to the Act, some aspects of which have already been implemented, “business is already better off”.

"The new Companies Act is designed to help secure Britain's position as a place where business can prosper, by creating the right conditions for business success in a world economy characterised by fierce international competition,” he said.

On Monday, the Association of British Insurers, which represents institutional investors, called for the Government to re-write a section of that would weaken the power of shareholders to vote at company meetings.

Speaking this afternoon, Mr Timms acknowledged these concerns and said his department was “actively investigating” the issue.

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