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Statutory Books are a Legal requirement
23 November 2012
The Companies Act requires all English, Scottish or Welsh registered companies, to have available at its registered office records which contain information relating to the company including –
- · Register of members
- · Share Certificates
- · Register of directors and secretaries
- · Register of charges, and
- · Minutes of proceedings of any general meeting of the company.
The abovementioned various records are frequently referred to as the 'company register' or sometimes as the 'statutory books'.
London Law can provide you with a fully completed register as part of the formation package which comes in a quality loose leaf binder and includes additional blank pages and blank share certificates for any changes that may take place. All you need to do is select the ‘Completed Register’ option on the final selection page.
We can often also provide completed registers for newly incorporated companies not incorporated by London Law.
Apart from the fines, the lack of a register of members can potentially affect the legal rights of the members of a registered company. It is in the interests of members/shareholders who register a company, to have their names recorded in the register of members. Share certificates are also important from a shareholder's perspective in proving ownership of shares in a registered company.
Some company registration agents (including Companies House via Business Link) supply their customers with a basic service, such as the Certificate of Incorporation, the Memorandum of Association and the Articles of Association, without offering the legally required registers. Unassuming clients who deal with those company registration agents (unless they have obtained the registers from some other source) may be unwittingly exposing the registered company and themselves to quite substantial fines ranging from £1,000 to £5,000.
For more information or to purchase a register for a company already incorporated,
contact info@londonlaw.co.uk or telephone 020 7353 9471.