Directors' Meeting Minutes
This Directors' Meeting Minutes may be used to record the proceedings of a meeting of the directors of a company.
(0 reviews)
Last updated October 16, 2024
Under 10 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
The company’s directors are generally responsible for managing the company’s business. Therefore, the directors’ meetings are the forum in which the directors make decisions relating to the board of directors’ oversight role of the operations and the management of the company.
Directors' Meeting Minutes serve as a written record documenting all resolutions made during a meeting of the board of directors of a company. It ensures that the board of directors operate effectively and transparently, and that the company's actions and decisions are properly documented and communicated.
Note that this template does not fulfil the company's responsibility to provide directors with adequate notice of the meeting. For such notice, use the Notice of Directors' Meeting.
The minutes are typically prepared by the company secretary, or another person designated by the board. The minutes should be accurate and objective and should not include any personal opinions or commentary. It is not uncommon to provide summaries of discussion, however the minutes should convey all the important points covered by the meeting.
Where a director has a material personal interest in a transaction or matter being considered at a meeting of directors, the minutes must show that the director disclosed that interest, see section 191(3) of the Corporations Act 2001 (Cth).
It is important to note that, following the meeting, where the board has passed a resolution approving a company change, ASIC should be notified within 28 days. There may also be certain obligations under the company's constitution that have to be met.
Resolutions may also be passed through circulating resolutions, however in such circumstances all of the directors who are eligible to sign are required to sign. See Directors' Circulating Resolution (General).
The Legal Risk Score of a Directors' Meeting Minutes Template
Our legal team have marked this document as low risk considering:
- It is not essential for compliance, although it may be used as evidence in future proceedings.
- It can be corrected where necessary.
Directors' Meeting Minutes Checklist
Complete your free Directors' Meeting Minutes with our checklist
Keep the document readily available
The secretary should keep this document among the company records.
What does the Directors' Meeting Minutes cover?
- Date and location of the meeting
- Names of directors present and absent
- Matters discussed
- Resolutions
What are the benefits of recording Directors' Meeting Minutes?
- Minutes are important for ensuring that the board's actions and decisions are properly documented and communicated to shareholders, regulators, and other stakeholders.
- They promote transparency and accountability in the decision-making process of the board of directors, ensuring that the actions of board members are in line with the company's goals and objectives.
- It can help keep stakeholders informed about the company's activities and strategic direction.
- They serve as a historical record of the company's activities and decision-making process.
- Minutes help to keep the board of directors organised and on track. By documenting the agenda and action items assigned to board members, minutes ensure that everyone is on the same page and knows what is expected of them.
- They serve as a legal record of resolutions made at the meeting, providing legal protection for the board of directors and the company in case of legal disputes.
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