Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Quorum definition

What does Quorum mean? The minimum number of people who must be present for a meeting to transact business validly. In company practice this applies to both general meetings and board meetings. If the quorum is not met, the meeting is inquorate; business should not be conducted other than adjournment, and any purported resolutions are generally invalid. In England & Wales, Scotland and Northern Ireland, the Companies Act 2006, s 318, sets the default quorum for general meetings: two qualifying persons (a member, a corporate representative or a proxy), subject to the articles of association. Multiple proxies for the same member, or multiple corporate representatives...

Precedent board minutes: establish discretionary EBT, appoint trustee, approve trust deed and related documents, fund and subscribe for shares to satisfy employee share options (UK)

Published by a LexisNexis Share Incentives expert

Precedents

[ insert name of Company ] Company No [ insert registered number of Company ] (the Company)

Record of a meeting (the Meeting) of the Company’s Directors convened at [ insert time of meeting ] on [ insert date of meeting ]

Name
Position
Present:
In attendance:
Apologies for absence received from:

1 Notice and quorum

1.1 The Chair noted that due and proper notice of the Meeting had been served, that a quorum of directors was in attendance and the Meeting was accordingly therefore duly constituted...

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Jeremy Glover (Share Schemes)

Jeremy is a senior incentives lawyer who has over 18 years' experience advising businesses on their employee and executive incentives and share plans. Jeremy's practice focuses on the field of remuneration, executive pay, employee share plans and management buyouts. Jeremy advises a broad range of clients including multinationals, quoted companies, privately owned companies (family, owner-managed businesses, venture capital backed and private equity backed). He also provides specialist expert advice to other professional advisers such as accountants, tax advisers and remuneration consultants for their clients. Jeremy has worked in private practice and in-house and enjoys advising clients using the benefit of both perspectives. Jeremy used to head up the incentives practices at Reed Smith LLP, Stephenson Harwood LLP and the Entrepreneurial Group at EY in London. Jeremy is now a senior consultant to a number of law and accounting firms including Reed Smith LLP, PWT Advice LLP and...

Web page updated on 22/05/2026

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