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Commercial Law - Minutes Required for Sole Director?

Discussion in 'Commercial Law Forum' started by Ted Sherwood, 23 April 2016.

  1. Ted Sherwood

    Ted Sherwood Well-Known Member

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    What minutes are needed to be kept for the decisions made by a sole director/shareholder of a Pty Ltd company under commercial law?
     
  2. Rod

    Rod Well-Known Member

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    Generally none. However I think there is one the accountant completes as part of the company setup/annual return.
     
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  3. Tim W

    Tim W Lawyer
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    Have a read of this. Scroll down to the bottom.
     
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  4. Rod

    Rod Well-Known Member

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    Hmm, you're right Tim. It says:

    "Even the sole director and member of a proprietary company must keep minutes (a written record) of their resolutions concerning the management of the company. If you are the sole director and member of a company you may pass a resolution by recording and signing your decision."

    What is meant by 'management of the company'? Changes to director, shareholders? Or day to day business decisions?

    I'd expect most sole director/member companies do not keep formal minutes.
     
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