{"id":12074,"date":"2024-04-12T15:39:55","date_gmt":"2024-04-12T14:39:55","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12074"},"modified":"2024-04-12T16:40:46","modified_gmt":"2024-04-12T15:40:46","slug":"board-meeting-minutes","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/board-meeting-minutes\/","title":{"rendered":"How to take effective board meeting minutes"},"content":{"rendered":"

Board meetings are gatherings of a company\u2019s board of directors. They\u2019re generally optional unless the articles of association state otherwise. However, if you operate your private limited company with more than one director they can be a valuable opportunity to meet, make decisions relating to the running of the business, and ultimately ensure that directors are acting collectively.<\/span><\/p>\n

When you do choose to hold board meetings, you are obliged by the Companies Act 2006<\/a> to take minutes and keep them as a record for ten years; it is a criminal offence to fail to do so. However, there is no one-size fits all approach to writing minutes. <\/span><\/p>\n

With this in mind, here we share our advice for taking effective board meeting minutes. Pencils (or laptops) at the ready\u2026<\/span><\/p>\n

Choose an appropriate minute-taker<\/h3>\n

The person who will be taking the minutes should be decided as soon as the board meeting has been announced. Do not decide on the day or give the task to whoever happens to walk into the meeting holding a laptop, as the individual will require time to prepare.<\/span><\/p>\n

  • \r\n Company resolutions – the different types explained<\/span><\/a>\r\n <\/li>\r\n
  • \r\n What is a shareholder proxy?<\/span><\/a>\r\n <\/li>\r\n
  • \r\n General meeting rules and procedures for limited companies<\/span><\/a>\r\n <\/li>\r\n
  • \r\n Difference between board resolutions and board minutes<\/span><\/a>\r\n <\/li>\r\n <\/p>\n

    It is useful for the minute taker to have an understanding of the topics on the agenda. Taking accurate minutes is also quite an involved process that requires attention. Because of this, we recommend picking a skilled individual within the company who will not have an active role in the meeting but is familiar with its inner workings. Furthermore, they must be trusted not to discuss any sensitive matters that may arise.<\/span><\/p>\n

    If your company is a very small one, you may have no choice but to ask a director participating in the meeting to take minutes. This is fine but, again, give that person advance notice to ensure that they are ready.\u00a0<\/span><\/p>\n

    For this blog, let\u2019s assume the task of writing the minutes has been handed to you.<\/span><\/p>\n

    Understand the job<\/h3>\n

    Minutes are not transcriptions or verbatim representations of exactly what was said at the meeting. Instead, they should be a summary of what was discussed, and the decisions made. <\/span>The Corporate Governance Institute<\/a> (formerly ICSA) has said that:<\/p>\n

    “[t]he purpose of minutes is to provide an accurate, impartial and balanced internal record of the business transacted at a meeting” and that “[m]inutes need to be written in such a way that someone who was not present at the meeting can follow the decisions that were made”. <\/span><\/p><\/blockquote>\n

    However, it also notes that minutes should be reasonably concise.<\/span><\/p>\n

    Think of board meeting minutes as being like a plot synopsis for a play or film, rather than the actual script. Minutes do not need to specify what Person A said to Person B, how Person A responded and what Person C then added. Instead, they should be selective but neutral, with a breakdown of key points accompanied by conclusions and clear actions.\u00a0<\/span><\/p>\n

    The minutes should not include your personal comments or opinions, unless these were expressed during the meeting and are objectively noteworthy.\u00a0<\/span><\/p>\n

    \r\n \r\n \"Revolut\r\n \"Revolut\r\n <\/a>\r\n <\/div>\r\n \n

    As well as being legally required, board meeting minutes<\/span> are also genuinely useful documents. They can:<\/span><\/p>\n