A RAFT of proposed changes to Guernsey’s companies law is reasonable bearing in mind the bulk of the legislation, according to local lawyers.

That is despite the law, which provides the legal framework for the establishment and operation of companies, coming into force only at the beginning of 2008.

The Commerce and Employment Department wants feedback from industry on more than 80 alterations it wishes to make to the legislation following its post-implementation review.

Advocate Andrew Walters, a partner within the corporate department at Ozannes, said the proposed changes should not come as a surprise as the legislation was always intended to be a living document capable of amendment, particularly as it was a radical departure from the regime that preceded it.

‘The number of proposed changes is a reflection of the thorough approach that has been adopted by those involved with preparing and contributing to the consultation paper,’ said Advocate Walters. ‘Furthermore, it was always acknowledged that practical issues arising from the legislation would take some time to come to light.’

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