The First Directors Board Minute is used to record details of the first meeting of the directors after formation of a company. A formal record of the meeting is required by law. It's good practice to hold this meeting within a month of setting up the company.
This document minutes the decisions made by the directors of the company during the important first board meeting. The first board meeting confirms the incorporation of the company, the names and roles of the directors, the initial subscribers (members), and (as appropriate) appointment of solicitors, bankers and accountants.
This First Directors Board Minute is suitable for use in the UK by companies limited by guarantee and includes clauses covering:
- appointment of chairman
- confirmation of company registration
- names of directors and secretary
- accounting date
- appointment of bank, accountants and solicitors
- initial subscribers (and shareholdings - if limited by shares).