change of company director and bank accounts

[alun]

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?

 

[alun]

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]

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?

 

[elaine@cheapaccounting]

does she want you to take over the directorship or shareholding or both

 

[alun]

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]

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... Cp seems OK with bad credit reference.

 

[allsaints1]

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?