The Companies Act 2006 regulates companies within the jurisdiction of the United Kingdom. The Act was brought into on 1 October 2009 and superseded the Companies Act 1985. The Act provides a comprehensive code of company law for the United Kingdom, and made changes to almost every facet of the law in relation to companies. The key provisions are: The Act codifies certain existing common law principles, such as those relating to directors" duties; it implements the European Union"s Takeover and Transparency Obligations Directives and it introduces various new provisions for private and public companies