These are worth looking at, because the CLRG is not any old group, or even any old government- sponsored commission: it is a high-powered collection of some of the best minds in the country in this area of law, and it has a record of getting its suggestions implemented.

The proposed statute would have 1,263 sections, about three times the number of the 1963 Act, and I obviously cannot summarise it here now, but the highlights are:

A one document constitution, in place of the current Memorandum and Articles of Association

The possibility to waive the holding of an AGM

A minimum of one director instead of two, as currently required

Removal of the need for a company to set down its 'objects' thus removing the legal risk of exceeding its powers ('ultra vires').

A reduction in Court involvement in the winding-up of companies.

A root and branch updating of criminal offences, leading to a new four-fold categorisation of all but the most serious of offences.