Partnership Standard Format Minutes

Partnership Standard Format Minutes provides a standard format for recording the minutes of a meeting of the members of a partnership.

Unlike limited companies, partnership legislation does not specify how internal decisions must be recorded. There is no equivalent for partnerships to section 248 of the Companies Act 2006, which requires companies to keep minutes of directors’ meetings.

In practice, a partnership agreement will often specify how internal decisions are to be made and recorded, including decisions taken at meetings of the partners and decisions taken by a managing partner. Even where the partnership agreement is silent, it is generally good internal administration to establish a decision-making process and keep a record of meetings.

What does Partnership Standard Format Minutes do?

It provides a minutes template, adapted from standard company-style minutes, that can be used to record decisions and discussions at a partnership meeting.

When should you use Partnership Standard Format Minutes?

Use it when the partners (or the partnership’s governing arrangements) require a written record of a meeting, or where the partnership wants a clear internal audit trail of the decisions taken.

How Partnership Standard Format Minutes is set out

The template is based on the standard format minutes used for companies, adapted for partnerships.

Partnership Standard Format Minutes is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.