What is this statutory books template?
The basics: Running a company comes with a long list of required legal documents. As you set the foundations, you’ll quickly come into contact with statutory books / statutory registers.
Legal requirement: Under company law in the UK (The Bribery Act 2010), a company is required to maintain a set of records (also known as 'registers' or 'books'). The books must be kept by the company at either its registered office, a Single Alternative Inspection Location (SAIL address), or at Companies House. Companies are also required to make these registers available to shareholders on request. This statutory books template can be used to help you meet your legal obligations under UK company law.
Content: Docue's statutory books template includes the option to include the following content:
- Register of members (shareholders) - including the names and addresses of shareholders, the dates that they became shareholders, the dates that they ceased to be shareholders, the number and class of shares held by them and the amount paid or agreed to be paid by them for those shares
- Register of directors - including details of the directors that need to be provided to Companies House when they are appointed. The specific information that must be included varies depending on whether the director is an individual or a corporate body.
- Register of directors' residential addresses - under Section 165 of the Companies Act 2006, every company must keep a register of its directors' residential addresses. The register must state the usual residential address of each of the company's directors.
- Register of secretaries including their names and addresses - although not all private companies appoint secretaries, every company that does must keep a register of its secretaries.
- Register of persons with significant control - under section 790M of the Companies Act 2006, a company must keep a register of people with significant control over the company. A person with significant control (PSC) is someone who owns or controls your company. They’re sometimes called ‘beneficial owners’. The most common conditions for being a PSC are holding: (i) more than 25% of shares in the company; (ii) more than 25% of voting rights in the company; or (iii) the right to appoint or remove the majority of the board of directors.
When should I use this statutory books template?
While it's possible to maintain some of these books / registers electronically at Companies House, many companies choose to maintain these registers 'offline' so they have a copy that can easily be accessed and updated. This can be particularly helpful in a sale scenario as there is an up-to-date set of books that can easily be presented to the potential buyer of the company. If your company chooses to keep the information on the public register at Companies House, rather than in its own statutory registers, this information becomes part of the public register. The public register is open for anyone to inspect and take copies of information.
This statutory books template also includes the following additional registers:
- Register of applications and allotments for shares - which includes details of all shares issued by a company including who they were issued to and at what price
- Register of transfers - which includes details of all transfers of shares including who transferred them and to whom they were transferred and at what price.
Why use Docue's statutory books template?
Easy to use: With Docue, you can create top-quality statutory books / registers in just minutes. All you need to do is answer a series of simple questions and the document will be updated in live time to reflect your answers.
Designed by lawyers: The statutory books template includes model content designed by business lawyers to help you draft the books yourself and tailor them to your needs.
Secure storage: All legal documents you make are saved in your company's own Docue account, Docue Drive, in one secure place.
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