• The Roles of a Company Director and Secretary Jul 28, 2020
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    A director and secretary hold integral roles within a company, and when appointed, both have a burden of responsibility to maintain the smooth-running of a business. Once you’ve completed your company formation, you must know all of your company’s members, including their assigned roles and responsibilities — in particular, a director and secretary.



    The Definition of a Company Director

    A limited company chooses a company director to manage its daily business activities and finances, ensuring every legal filing requirement is met. A director and a secretary (more on a secretary below) are required to operate with integrity, and abide by the law to make verdicts that better the company as well its members (shareholders). A director can bind the company into valid contracts with third-parties (buyers, lenders, suppliers etc) and act as trustees for a company (but not the individual stockholders).


    This is how the Business Directory defines a director:

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    The Roles of a Company Director

    Company directors act as a collective “board of directors”, albeit the board may delegate certain powers to a board committee or an individual company director.

    The roles and responsibilities of a company director are set out in the Companies Act 2006, the articles of association, and any service contract that may be in effect between a director and the business.

    According to the Companies Act 2006, company directors must:

    Read the full article for FREE at: https://www.yourcompanyformations.co.uk/blog/the-roles-of-a-company-director-and-secretary/



    The Definition of a Company Secretary

    A company secretary is an officer (individual) who is appointed by a company’s directors to take on the responsibility for ensuring that the company’s legal obligations comply with the corporate legislation. The Business Directory states:

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    The Roles of a Company Secretary

    According to the July 2018 UK Corporate Governance Code:

    "All directors should have access to the advice of the company secretary, who is responsible for advising the board on all governance matters. Both the appointment and removal of the company secretary should be a matter for the whole board."

    While the roles of a company secretary are not explicitly specified in the Companies Act, they usually have to exercise the following duties:


    Read the full article for FREE at: https://www.yourcompanyformations.co.uk/blog/the-roles-of-a-company-director-and-secretary/
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