Minutes for the first meeting of the board of directors of a company following its formation. Resolutions for the full range of potential matters which may need to be approved at the company’s first board meeting.
Use this document:
- for the inaugural board meeting of a company following its formation
- to replace temporary arrangements put in place at the time of incorporation formation
- for a company incorporated in England and Wales
Key features include:
- resolutions for a complete range of matters for the first board meeting
- directors: remove temporary directors and appointment permanent directors
- name: change the name from a temporary to a permanent name
- articles of association: adopt new Articles of Association in place of default Companies Act Model Articles
- registered office: update from temporary to permanent registered office address
- bank: approve bankers and bank mandate(s)
- year end: change the company’s financial year end (its accounting reference date) from the default date under the Companies Act to the date to which statutory accounts will be prepared
- shares: approve transfers, allotments and issues of shares to new and existing shareholders
Why hold a board meeting following formation of a company?
A company may need to hold a board meeting following the company’s formation to approve certain administrative and other matters.
This is particularly the case where, for timing or other reasons, a company has been formed quickly with certain matters dealt with on a temporary basis, perhaps to be decided or arranged later. A board meeting can update these temporary arrangements and approve and put in place the intended longer-term arrangements.
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