Declarations of Interest – wording for board minutes

Board Minutes to Declare Directors’ Interests

CO.CA.DIR.16

The Companies Act 2006 requires each director to make a declaration in relation to any transaction or arrangement that the company proposes to enter into or has entered into, to which they, directly or indirectly, are interested. There are various ways that this can be done but the interest must be recorded in the minutes of the relevant board meeting convened to discuss the transaction or arrangement in question. This includes making a declaration that no interest exists, if that is the case.

This template provides customers with the various different wording alternatives required to capture:

· a declaration of interests in relation to a proposed transaction or arrangement (section 177 Companies Act 2006);

· a declaration of interests in relation to an existing transaction or arrangement (section 182 Companies Act 2006);

· a declaration of interests in relation to a written notice under section 184 Companies Act 2006 or a general notice of interests under section 185 Companies Act 2006; and

· a statement made to the effect that there is no interest to declare.

This board meeting is designed to be used by a private limited company.

The document is in open format. Fields should be completed where indicated. Wording in square brackets is optional and can be deleted or retained according to requirements.

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