Shareholders’ Agreement: why should your company have one?

Although there is no legal requirement to have a Shareholders’ Agreement (‘SHA’), shareholders are often advised to have an agreement when starting a company with more than one shareholder. An SHA is an agreement between all or some of a company’s shareholders defining the parties’ rights and duties and how they will reach certain decisions. The following are some of the important reasons why your company should have an SHA in place: Privacy When a company is incorporated, the Articles of Association of the company are filed at Companies House,…

Guide to Duties and Responsibilities of Directors of Limited Companies

Here is a short overview of the general duties of directors. Who is a Director? You will normally know if you are a director as you will have formally accepted the position. However, if you exercise sufficient influence over a company or act as if you are a director, you may be treated as a director for certain purposes even if not formally appointed. Should you be a Director? Certain people are prohibited from acting as a director, including person under 16 years of age, bankrupts, disqualified persons and a…

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