Company director resignation letter template

This company director resignation letter template provides a clear written notice of resignation.

It includes two versions: a simple letter and a detailed version for negotiated share sale transactions. It also incorporates a waiver of claims and confirmation that no amounts are owed to the resigning director.

 

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When do I use this document?

  • for a simple letter of resignation.
  • for a longer form of resignation for use in a negotiated share sale transaction, with a waiver of claims and amounts owed to the resigning director.

What are the key features?

  • alternative forms of letter – simple and longer form, addressed to the board of directors.
  • longer form letter includes:
      • confirmation that no amounts are owed to the resigning director by the company.
      • confirmation that the resigning director has no claims against the company and a waiver of any potential claims.
  • execution and delivery by the resigning director as a deed.

What else do I need to know?

When can a director resign?

  • A director can resign at any time by giving written notice to the company.
  • In most cases, company Articles of Association do not require a notice period.
  • If the company uses unamended Model Articles, the resignation takes effect as stated in the resignation letter.

Does the company need to approve the resignation?

  • No, the company does not need to approve a director’s resignation.
  • However, it is standard practice to note the resignation at the next board meeting.

What are the filing requirements at Companies House?

  • The company must notify Companies House of the resignation within 14 days.
  • The following forms are used:
    • Form TM01 for individual directors.
    • Form TM02 for corporate directors.

When do I use this document?

  • for a simple letter of resignation.
  • for a longer form of resignation for use in a negotiated share sale transaction, with a waiver of claims and amounts owed to the resigning director.

What are the key features?

  • alternative forms of letter – simple and longer form, addressed to the board of directors.
  • longer form letter includes:
      • confirmation that no amounts are owed to the resigning director by the company.
      • confirmation that the resigning director has no claims against the company and a waiver of any potential claims.
  • execution and delivery by the resigning director as a deed.

What else do I need to know?

When can a director resign?

  • A director can resign at any time by giving written notice to the company.
  • In most cases, company Articles of Association do not require a notice period.
  • If the company uses unamended Model Articles, the resignation takes effect as stated in the resignation letter.

Does the company need to approve the resignation?

  • No, the company does not need to approve a director’s resignation.
  • However, it is standard practice to note the resignation at the next board meeting.

What are the filing requirements at Companies House?

  • The company must notify Companies House of the resignation within 14 days.
  • The following forms are used:
    • Form TM01 for individual directors.
    • Form TM02 for corporate directors.

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Updated by a lawyer on 03/09/2024

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