View Full Version : change of company director and bank accounts
My partner set up a private limited company as a sole director a month or so ago. She applied for a company bank account which was granted OK. Now she wants to resign and have me take over without having any more involvement legally with the business.
I understand that she needs to appoint me as a company director and then resign etc herself, but how would this affect the company bank account. Is that secure without change, or will I need to reapply for an account?
My partner set up a private limited company as a sole director a month or so ago. She applied for a company bank account which was granted OK. Now she wants to resign and have me take over without having any more involvement legally with the business.
I understand that she needs to appoint me as a company director and then resign etc herself, but how would this affect the company bank account. Is that secure without change, or will I need to reapply for an account?
Can anyone advise?
Please
Maslins
3rd June 2009, 12:13
You'll need to make yourself a signatory, and might want to remove your partners, but otherwise...not sure I see a problem.
Presumably the account is in the name of the Ltd Co rather than your partner personally?
elainec100@cheapaccounting
3rd June 2009, 12:59
does she want you to take over the directorship or shareholding or both
I think she wants me to take over both. The problem I think I may have and the cause for concern is that I dont have good credit history which has caused problems for me opening an account. We are now seperating and I want to take over the business which she is happy for me to do but obviously I dont want to end up having problems with the bank account if she leaves the business like she wants to...
Animal
3rd June 2009, 13:30
You could try becoming a signatory first and see if that gets past the bank. If they won't transfer the account to another bank... Co_Op seems OK with bad credit reference.
allsaints1
14th September 2010, 20:13
can any one help?
i have a company set up in a family members name,
Shortly i will receive some large orders and jobs,thus there will be large turnover in the company,
I will then want to transfer this in to my name , keeping all the money in the business is this possible?