Directors, Secretaries and Guarantors
Directors, secretaries and guarantors are the three types of personnel that make up a company limited by guarantee. they each play a different role and carry a varying degree of responsibility. In many cases an individual will fulfill more than one role for example director and secretary or director and guarantor etc . Any of these roles can also be assigned to a corporate body under the authorisation of an officer from the associated company. Below is a brief description of each of the three roles:
The board of directors are responsible for the day to day duties involved in running the company and ensuring it meets its responsibilities and deadlines. Every company director has a personal responsibility to ensure that statutory documents are delivered to Companies House as and when required. A director does not have to reside in the UK , however they must be over the age of 16 and not be an undischarged bankrupt.
Every company must have a secretary. The secretary predominantly plays an administrative role in the company and ensures that the statutory register is maintained in good order as well as ensuring the responsibilities of the company are fulfilled. Again a secretary must be over the age of 16 but does not have to reside in the UK .
Companies Limited by Guarantee do not have shareholders or a share capital, instead the company will have guarantors. A guarantor or subscriber is an individual who limits their liability by a predetermined sum of money usually £1.00 in the event of the company being wound up. The guarantor further undertakes to subscribe to the company's memorandum and articles of association and will be listed as a subscriber on these documents.
- The company name
- The registered office address
- Share capital
- Directors, secretaries and shareholders
- Guarantors (Limited by Guarantee companies)
- Designated Members (Limited Liability Partnerships - LLP)
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