Records of directors' meetings
The Companies Act requires a company to keep records of its directors' meetings. The responsibility for these records rests with the company's Board of Directors.
The Act requires every company to keep minutes of all proceedings at directors meetings for at least ten years from the date of the meeting. Failure to do so is an offence.
If the minutes are approved by the chairman they are evidence (Scotland, sufficient evidence) of the matters discussed and decided at the meeting. Therefore until proved to the contrary, the meeting is deemed duly convened and held; all proceedings are deemed to have duly taken place and all appointments at the meeting are deemed valid.
While it has been assumed by the law that attendees at meetings have previously attended in person, common practice has permitted directors to 'attend' by telephone or videoconference. The Act now allows for attendance by telephone or video conference where unable to attend personally. Normal notice of meeting and minutes should be prepared and authenticated.
Guides
- Business
- Business start-up
- Business finance
- Your customers
- Your employees
- Partnerships
- Sales and marketing
- IT and e-business
- Business regulations
- Business and the environment
- Selling your business
- Budget archive
- Limited companies
- Should you form a limited company?
- Forming a company
- Buying a company 'off the shelf'
- Choosing a name for your company
- Registered office
- The law and directors' responsibilities
- Appointment of directors
- General duties of directors
- Directors' service contracts
- The company secretary
- Statutory records
- Appointment of auditors
- An auditor's rights to information
- Do you need an audit?
- A company's members
- Shares and share capital
- Loans to directors
- Directors transactions requiring members approval
- Directors' report
- Signing of accounts: directors and auditors
- Filing of accounts and late filing penalties
- Records of directors meetings
- Getting the company struck off
- Essential record keeping
- The tax system for companies
- Associated company tax rules
- Accounting records
- Financial year
- Group accounts
- Interest and tax payments
- Penalties for late returns
- Main capital allowances
- Industrial buildings allowance
- Benefits in kind and expenses payments
- Claiming expenses - it's all or nothing
- Tax and the company car
- Business deductions
- 'Green' travel arrangements
- Could your business survive without you?
- Changing the company name
- Related director agreements
- Tax saving strategies
- Company bonus or dividend?
- Corporation tax
- Companies Act 2006
- Companies House - forms you need to know about
- Personal
- Tax
- Links
- Calculators
