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.

 

Read more

When do I use this document?

  • for a simple resignation letter.
  • 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 resignation letter.
  • 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.

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Updated by a lawyer on 03/09/2024

Create your document in 3 Easy Steps
Amanda | Bannister Creative
“It’s hard to find legal documents on the internet you can really trust. Knowing an expert lawyer has drafted what I need, gives my business the edge and gives me peace of mind.”
Elle, Founder | Winslow skincare & aesthetics.
“As an SME Paperrock saves us the legal fees we’ve previously had to spend. In these challenging times that's a big help. Great products and support.”
Giles, MD | Boniti Ltd.

Related Articles

Sorry, we couldn't find any posts. Please try a different search.

Shopping Basket

Sample available