Corporate Governance
Companies Act Compliance
Companies Act Compliance Solicitors in Manchester and London
As the Director of a company, there are certain governance and regulatory requirements you must meet. Monarch Solicitor’s expert team can assist you in ensuring you meet these.
Companies Act Compliance
There is no longer an obligation for a company to have a company secretary, but the responsibilities of the role remain. Failing to comply with the requirements of the Companies Act 2006 can result in a fine and even criminal prosecution. Monarch Solicitors can help ease the pressure of these responsibilities by providing:
- Organisation of board meetings
- Running of board meetings – including minuting and ensuring all members have the required documentation
- Assisting with dividend payments
- Advising on director’s duties
- Advising on matters between directors and shareholders
- Advice regarding your Articles of Association
- Ensuring the correct filings are made to Companies House in a timely manner
Contact our Corporate Solicitors:
If you would like to enquire about any matters relating to corporate governance please complete our online contact form here or send an email to us at [email protected] and one of our solicitors shall call you back.
Alternatively, please call our corporate solicitors in Manchester on 0330 127 8888 for a no obligation discussion.
We are also able to leverage an international network spanning across Hong Kong, Turkey and Dubai to provide seamless assistance with cross-border matters relating to Companies Act compliance.
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FAQ
Under the company law, the officers of a company are responsible for:
- ensuring that all the legally required information is filed with Companies House
- maintaining the company’s registered office
- keeping the company’s statutory books and records
- looking after the security of key legal documents
- organising and recording board meetings
- organising and recording general meetings of the shareholders
- disclosing company details on premises and stationery, including the company’s website
The directors are ultimately responsible for ensuring the company complies with the law, including the Companies Acts. The company secretary, if one is appointed, shares legal responsibility for Companies Act compliance with the directors.
In a private company, the company secretary is not legally required to have any formal qualifications. Nevertheless, it is a good idea for the company secretary to have some experience or training.
There are rules stopping certain people from being secretary. For example:
- the company’s auditor cannot be the company secretary
- an undischarged bankrupt cannot be the company secretary (unless given permission by the court)
In a public company, the directors have a responsibility to ensure that the company secretary is someone with the right knowledge and experience. The company secretary must also meet one of the following requirements:
- be a member of certain specified organisations such as the Institute of Chartered Accountants or the Institute of Chartered Secretaries and Administrators
- be a barrister or solicitor
- have been the secretary (or assistant secretary) of the company on 22 December 1980
- have been secretary of a public company for at least three out of the last five years
- have a similar position or professional membership that the directors feel makes them able to act as company secretary
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