Private companies need to decide how to deal with a number of provisions in the Companies Act 2006 that will affect their day-to-day management and administration.
This checklist highlights ten of the key points that your company needs to consider:
- Ensure that your company complies with the requirements for directors and ensure that, where a company has corporate directors, there is at least one natural person who is a director.
- Consider making amendments to your company’s articles of association, including whether to adopt the new model articles under the Companies Act 2006.
- Make sure that your company’s board of directors is educated on the statutory
statement of directors’ duties.
- If your company does not have a company secretary, decide who is responsible for statutory filings and maintaining company records.
- Ensure that all your company’s procedures on company meetings and resolutions are updated for the Companies Act 2006 and, in particular, be aware that any written resolutions should be passed in accordance with the prescribed procedure in the Act.
- Review the signing procedures and any standard documents to ensure that, if
desired, they permit one of your company directors to execute deeds.
- Familiarise your company secretarial team and other relevant personnel with the new Companies House forms and procedures.
- Ensure that your company directors review the authorisation and procedures for directors’ conflicts.
- Make sure that your company’s statutory details are included on all hard copy
documents, e-mails and company websites.
- Review all your company register and record requirements and ensure that registers comply with the Companies Act 2006. In most cases there are relaxations, but there are also some new requirements, such as the requirement for a separate register of directors’ residential addresses.