Board Minutes - Standard Format
IN LIGHT OF THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023, THIS TEMPLATE IS CURRENTLY UNDER REVIEW.
These Board Minutes – Standard Format can be used in conjunction with other board minutes templates in this collection, or customised to suit the agenda of your meeting.
Key legal requirement: directors’ meeting minutes (s.248 Companies Act 2006)
Under section 248 of the Companies Act 2006, every company must record minutes of all proceedings at meetings of its directors. The records must be kept for at least ten years from the date of the meeting. If a company fails to comply with this section, every officer of the company who is in default will be liable to a fine.
Why the chairman’s signature matters
The chairman signs the minutes, and they then become evidence of what occurred at the meeting. Where minutes have been recorded and authenticated by the chairman:
- The meeting is deemed to have been duly held and convened.
- All proceedings at the meeting are deemed to have duly taken place.
- All appointments at the meeting are deemed valid.
Sole director records
The obligation under section 248 does not extend to sole directors, but sole directors should keep records of resolutions made as a matter of good corporate governance.
These Board Minutes – Standard Format include optional wording to record the resolutions of a sole director.
Board Minutes - Standard Format is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.