Company director resignation letter template

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.