Filing of Resolutions and Agreements to the Registrar under Section 117: What You Need to Know
Resolutions and agreements are important documents that companies use to make decisions and carry out business operations. These documents, however, need to be filed correctly and in a timely manner to ensure compliance with the Companies Act 2006.
Section 117 of the Companies Act 2006 sets out the requirements for filing resolutions and agreements to the registrar. Here are the key aspects you need to know about filing these documents.
What constitutes resolutions and agreements?
Resolutions and agreements are formal expressions of a company’s decisions and intentions. They can include decisions made at general meetings such as appointing directors, approving annual accounts, or authorizing share issuances. Agreements are binding contracts between the company and other parties, such as suppliers, customers, or business partners.
Why are resolutions and agreements filed with the registrar?
The registrar is responsible for maintaining the register of companies in the UK. Filing of resolutions and agreements ensures that the registrar is aware of the company’s activities, and that they are recorded accurately and kept up-to-date. This information is publicly available and can be viewed by anyone who wishes to check the company’s status or activities.
When should you file resolutions and agreements?
Resolutions should be filed with the registrar within 15 days of being passed. Agreements should be filed within 30 days of being entered into. Failure to file within the prescribed time can result in penalties and fines, and can affect the company’s good standing with the regulator.
How to file resolutions and agreements
Resolutions and agreements can be filed electronically through the Companies House WebFiling service or by sending paper copies to the registrar. The filing process requires certain information such as the date of the resolution or agreement, the type of document, and the authority under which it was made.
What are the consequences of non-compliance?
Non-compliance with the filing requirements can result in serious consequences. The company may face fines, and the directors may be subject to disqualification. In addition, failing to file resolutions and agreements can lead to errors in the register, which can cause problems with lenders, suppliers, and customers.
In Conclusion
Filing of resolutions and agreements is an important part of a company’s compliance with the Companies Act 2006. It ensures that the registrar is aware of the company’s activities and that the information is kept up-to-date. Failure to file can result in penalties and fines, and can affect the company’s reputation and credibility. Make sure you understand the requirements and file your resolutions and agreements on time to avoid any negative consequences.