Statutory books are an essential part of running a company, but many business owners may not fully understand their importance, or how to maintain them properly.
Statutory books, also known as 'corporate records' or 'company registers', are official documents that a company is required to keep as part of its legal obligations. These books contain important information about the company's shareholders, its directors and usually contain copies of minutes and resolutions.
By law, a company must maintain certain registers, including:
Register of Members: This document contains details of all the company's shareholders, including their names, addresses, and the number of shares they hold.
Register of Directors and Secretaries: This document lists the names and addresses of the company's directors, as well as any company secretaries or other officers.
Register of Persons with Significant Control: This document details the beneficial owners of shares, and those that may hold an aspect of control over the company.
Statutory books are a vital part of running a company and should be maintained with care and diligence. By keeping these books up to date, a company can demonstrate its transparency and compliance with legal requirements, as well as provide a valuable record of its ownership history.
Historically, statutory books may have been stored in hard copy, or as un-structured data in Microsoft Word or Excel, or accounting software.
CompanyBooks provides an easy to use, secure online platform, for advisors to store and share important company records digitally.