MSP Secretaries

All businesses know the importance of keeping accurate and up-to-date records. But when it involves statutory books, there is a legal imperative to get it right – and failure to do so could land you in hot water. The Companies Act 2006 requires every company to keep their statutory books maintained and readily available for…

The UK was one of the first countries to establish rules for the operation of companies. Today, more than 6 million businesses in the UK benefit from a system of company law and corporate governance that decides how they are formed and run, and how business is conducted. The notify Companies House of the changes. In order…

To receive, or not to receive, that isn’t the question A company’s articles of association may require the accounts to be “considered” and/or “adopted”. However, the only legislative requirements are for copies of the accounts to be sent to all members and for the accounts to be laid before the members in general meeting. In…

Registering a company in the UK is not expensive and we regularly see offers stating that the registration of a company is free with certain products. Many people don’t know how to register a company so this may be a very tempting, however this approach poses significant risks for companies. There is so much more…

THERE ARE KEY DIFFERENCES BETWEEN LEGAL SHAREHOLDERS, AND BENEFICIAL SHAREHOLDERS. When it comes to holding shares, it is important to be aware of the distinction between legal and beneficial shareholders. This is because there is a difference in the rights of a legal and a beneficial shareholder. It is important to have clarity over the…

The annual general meeting (AGM) is a firm fixture in the calendar of UK public companies. It serves as an opportunity to reflect on the previous year’s performance and provides vital information to shareholders. An AGM also looks to the future, setting clear company-wide targets for the coming year and analysing the market and industry…

AGMS vs EGMS - what is the difference?Shareholder meetings are an important means of enabling transparency and accountability over company polices and performance. They provide an opportunity for members to question the board over company strategy, hear the views of other shareholders and make decisions. But what is the difference between an annual general meeting…

AGM Notice Periods AGM season is on us and, yet again, the AGM notice period is the subject of many debates. The issue is that the ambiguous language of the Companies Act 2006 makes computing notice periods for annual general meetings problematic. The objective here is to clarify and provide a standard for the date…

PROS AND CONS OF SETTING UP A LIMITED COMPANY One of the first decisions you will make as a new business owner is what regulatory structure is best for your business. Depending on the type of industry you are in, your target clientele and your anticipated turnover, there may be several options available to you.…

HOW AND WHY COMPANIES SHOULD USE ALPHABET SHARES The ownership of a limited company is divided up into shares. These are portions of the company owned by shareholders or members that entitle them to some of the profits. There are four main types of company shares – ordinary, non-voting, preference and redeemable – all of…