Companies Act 2014 section 58

Applicable laws during transition period

Section 58 sets out which laws apply to existing private companies during the transition period under the Companies Act 2014, and how those companies are treated until they either adopt a new constitution or re-register as a different company type.

• During the transition period, existing private companies are treated as designated activity companies (DACs) under Part 16, unless and until they deliver a new-form constitution to the Registrar
• Once a new constitution is delivered, the company becomes governed by the main provisions of the Act (Parts 1 to 15 and the relevant Part covering its new status)
• Existing private companies that adopted Table A regulations continue to be governed by those regulations after the repeal of the Companies Act 1963, subject to mandatory provisions of the new Act
• Any gap between delivering a new constitution to the Registrar and its actual registration is covered — the company continues to be treated as a DAC during that interim period

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