Your company is legally required to have at least one director. Directors are responsible for ensuring that your company is operating within and fulfilling its legal obligations.
what are the responsibilities of a company director?
Directors are the people who have responsibility for the legal operation of the company. If a company defaults on its legal obligations it is the directors who are held responsible on the company's behalf. This means that it is every director's personal responsibility to ensure that all necessary documents are delivered to Companies House as required under the Company's Act.
Directors also determine company policy and who must sign for any changes to the company's constitution. In a private limited company, Directors can decide who may own shares in the company.
who can become a company director?
Generally it is up to the members to appoint the people they believe will run the company well on their behalf. However, there are certain restrictions on becoming a director in a private company limited by shares, directors:
- must not have been disqualified by a court from acting as a company director (unless he or she has been given permission by a court to act for a particular company)
- must not be an undischarged bankrupt (except by permission of the court)
what are the age restrictions for directors?
Must be over the age of 16.
is there a limit to the number of company directors you can have?
You are required to have at least one director in your company but there is no upper limit to the number of directors.
Your company is no longer required to have a separate company secretary, however you will often need a second signiture on documents, and many companies still choose to appoint a company secretary (service available).