Loans to Directors under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); There are strict rules governing the circumstances in which directors may cause their companies to make loans or enter into other types of beneficial financial arrangement with them or people connected with them. A director who fails to observe these rules may be … Read more
General Meetings Under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); A general meeting is a meeting of a company’s shareholders (unlike a board meeting, which is a meeting of the directors). Companies Act 2006, Part 13 (comprising 80 sections) provides the statutory framework for the calling and conduct of general meetings. Note, too, that resolutions can … Read more
Statutory Registers under Companies Act 2006 Under the Companies Act 2006, every company must keep a number of separate registers, as follows: (i) Register of Members The register of a company’s members should contain the name and address of each member, the date on which they were first registered as a member and the date … Read more
Appointment of Auditors under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); Unless the company is exempt from the requirement to appoint auditors as a ‘small company’ or a ‘dormant company’ (and its members have not required an audit to be carried out) the company must appoint an auditor for each financial year (section 485 … Read more
Resignation of Director under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); Individual directors may wish to voluntarily terminate their own appointments for any number of reasons, both personal and business. They will normally do this via a formal resignation from office. It is important that the director’s intention to resign is communicated to the … Read more
Removal of Director by Members under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); The members of a company have a statutory power to remove a director from office at any time by passing an ordinary resolution for that purpose (section 168(1) CA 2006). That section also provides that the members’ right of removal applies … Read more
Eligibility to act as a Director under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); There has never been any prior test of competence that must be passed by a person wishing to act as a director of a limited company. Neither is there any expectation that any formal qualification be held by such a … Read more
Appointment of Directors under Companies Act 2006 Under the Companies Act 2006 new directors can be appointed by the company in one of the following ways: (i) By resolution of the company’s members : (adsbygoogle = window.adsbygoogle || []).push({}); The conventional way for a director to be appointed is via a resolution passed by the … Read more
Executive and Non Executive Directors under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); An executive director is a director who works on a full-time basis for his or her company, whether or not this is under a contract of employment. A sole director of a small company will invariably fit this description, even if … Read more