The Small Business, Enterprise and Employment Act 2015 (Commencement No. 3) Regulations 2015

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations bring into force specified provisions of the Small Business, Enterprise and Employment Act 2015 (c.26) (“the Act”). These are the third commencement regulations made under the Act. Certain provisions came into force on the passing of the Act.

Regulation 2 commences a provision which inserts a power into the Employment Rights Act 1996 (c.18) for the Secretary of State to require prescribed persons to report on disclosures of information. It also commences a power in the Act to make regulations concerning public sector exit payments.

Regulation 3 commences provisions for the purpose of exercising powers in the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c.27) and the Companies Act 2006 (c.46).

Regulation 4 commences provisions that insert a new Part 21A of and Schedules 1A and 1B to the Companies Act 2006 to the extent that they were not commenced by the first commencement order (S.I. 2015/1329) which brought section 81 and Schedule 3 into force on 26th May 2015 for the limited purpose of enabling the exercise of any power to make provision by regulations, rules or orders made by statutory instrument or to prepare and issue guidance.

In general, regulation 4 commences the new Part 21A of and Schedules 1A and 1B to the Companies Act 2006 on 6th April 2016. However, this is subject to regulation 5 which specifies that sections 790M(9)(c) and 790W to 790ZE of Part 21A together with paragraphs 4, 5 and 7 of Part 2 of Schedule 3 commence on 30th June 2016.

In addition, regulation 4 commences section 82 of the Act on 6th April 2016. Section 82 sets out provisions requiring the Secretary of State to review the provisions of Part 21A and Schedules 1A and 1B about PSC registers within three years of the date of commencement of section 92 of the Act.