Board Minutes – COVID 19 and Directors’ Duties

IN LIGHT OF THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023, THIS TEMPLATE IS CURRENTLY UNDER REVIEW. 

Directors’ duties and responsibilities as set out in the Companies Act 2006, continue to apply notwithstanding the COVID-19 pandemic. As directors are tasked with the management and control of their business, it is more important than ever that directors not just act in good faith to promote the success of their company but are seen to actively engage with this in a proactive and transparent manner.

The current pandemic will cause directors to consider their duties and the actions that they take even more carefully, and it is more important than ever to document these matters. Directors are unlikely to be held to have breached their duties if decisions made, whatever their financial outcome, have been made to safeguard employees and ensure the company’s continued viability.

These board minutes refer to the COVID-19 pandemic and set out the matters that the company has and will consider to successfully navigate the impact of the pandemic on the company’s business. These board minutes allow the directors to acknowledge their duties, have a written record of their actions and the matters that they considered in coming to their decisions.

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