12 Point Checklist

Some Important Responsibilities/Obligations of Directors:

  1. Does any director have a contract with the company? And does this give rise to any conflicts of interest between any director and the company?
  2. Are all registers kept and maintained up to date?
  3. General offences

Particulars of registered office to be kept current

Register of Directors to be kept current

Register of Charges to be kept current

Register of Loans/Guarantee/Security

Register of Contracts or Arrangements in which Directors have an interest

Minutes Book

Board Meeting Minute Book

General ( Share Holders ) Meeting Minute Book

  1. Company name must be on business letterheads and other stationery
  2. Company name must be displayed outside registered office
  3. Insolvency offences – incurring debts when the company is unable to pay
  4. Are company assets properly secured from loss, etc
  5. Meeting Minute Book must be maintained
  6. Do the directors have directors and officers insurance (e.g. against personal tort liability?)
  7. Are key personnel: On service agreements?
  8. Have intellectual property rights been protected for the company?
  9. Meeting Minute Book