Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Directors definition

What does Directors mean? directors are the individuals who, acting as the company’s board, manage the company’s business and make decisions for it. They set strategy, authorise significant transactions and oversee compliance, often delegating day-to-day operations to executives but retaining ultimate responsibility. In England & Wales, Scotland and Northern Ireland, the Companies Act 2006 defines a director broadly to include anyone occupying the position (including de facto and shadow directors). Ireland’s Companies Act 2014 adopts a similar definition. Directors act collectively through board meetings or written resolutions and may bind the company within their actual or apparent authority. Key legal features include statutory and fiduciary...

Precedent board minutes: termination of Employee Benefit Trust (EBT), company consent, Deed of Termination, voluntary funding, beneficiary distributions, trustee expenses, directors' interests, and HMRC notification (UK)

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Precedents

Company No [ insert registered number of company ]

[ insert name of company ] (the Company)

Minutes of a meeting of the board of Directors of the Company held at [ insert place of meeting ] 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 confirmed that proper notice of the meeting had been served, a quorum of directors was in attendance and, accordingly, the meeting was duly constituted.

2 Business of the meeting

2.1 The Chair stated that the meeting had been called:

2.1.1 to consider and, if deemed appropriate, recommend to the trustee of the EBT ( Trustee ) that the discretionary Employee Benefit Trust named [ insert name of Employee Benefit Trust ] (the EBT ) be terminated [ ; and OR . ]
2.1.2 [ to approve the making of a voluntary contribution of £[ insert amount ] to the Trustee to enable it to meet its Liabilities [ ; and OR . ]

...

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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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