Loan to director: set of documents

This pack includes 2x sets of documents. The documents satisfy the legal requirements for recording resolutions, notices and other procedures. The two sets provide you with an option to authorise the loan in a general meeting or follow the new procedure of a written resolution. The text is simple and in standard layouts.

Suitable for use in: England & Wales and Scotland
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About this set of documents

This set of documents allows a company to authorise a loan of money to a director.

Of all the business of a company, there are few more important than this to record the proper relationship between a lender company and a borrower director.

Documents included

Documents for a general meeting

  1. Minutes of meeting of the directors
  2. Consent to short notice for General Meeting
  3. Notice of General Meeting
  4. Minutes of General Meeting
  5. Proxy voting form

Documents for a written resolution

  1. Minutes of meeting of the directors
  2. Written resolution
  3. Statement under section 291(4)
  4. Member approval to written resolution

If the loan is by a company to a director who also controls it, the most important matter is to cover any possible misunderstanding by HMR&C.

If there are shareholders who are not directors, it becomes important also to make quite sure that the records in this document set are properly completed and may be copied among affected parties.

The Companies Act 2006 allows you to authorise loan in two ways: in members’ general meeting or by way of written resolution. We have taken advantage of the new flexibility of law by giving you 2 sets, which are simple and effective - and in plain English of course. So whether you are passing a resolution in general meeting or by written resolution this should suit you well.

The draft minutes and notices provided here are of course as required by the Companies Act 2006. These sets of documents do not include the text of your proposed resolution. That is for you to insert. It could be amendment of one article or it may run to twenty articles. The text to amend your articles is simple, in layouts accepted at Companies House. The wording can be added or edited easily.

There is no obligation to file a copy of any of these documents at Companies House (unlike a loan to a company).

Use loan agreements too

This document set does not record of the terms of loan, so you will also need one of our loan agreement templates. Depending upon your terms and to regulate the matters fairly you should put this document in place.

Key features

  • suitable for both types: general meeting or written resolution
  • provide option to call a meeting at short notice
  • contain modern provisions in plain English
  • allow you to draw the text of your minutes and resolutions to suit your exact business needs
  • full of practical and commercial help and suggestions
  • save your time and worry as you make your way through each document in turn

This document was written by a solicitor for Net Lawman. It complies with current English law.

UK-CPmin24 - Loan to director: set of documents (Suitable for use in: England & Wales and Scotland)

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