The whole category in one page.
THE COMPANY IS A SEPARATE PERSON, AND TREATING ITS MONEY AS YOURS IS WHAT REMOVES THE PROTECTION
So do personal guarantees, unremitted statutory deductions, and trading while insolvent. Find out which guarantees you have actually signed.
DIRECTOR DUTIES ARE OWED TO THE COMPANY, NOT TO THE SHAREHOLDER WHO APPOINTED YOU
Declare conflicts before the decision and withdraw from it. Declared conflicts are manageable; concealed ones are breaches.
THE REGISTER OF MEMBERS ESTABLISHES WHO LEGALLY OWNS THE COMPANY, AND IT IS ROUTINELY NOT MAINTAINED
Update every transfer and allotment promptly, because reconstructing years of changes later is disputed and sometimes impossible.
MINUTES THAT SHOW A DECISION WAS CONSIDERED PROTECT DIRECTORS — MINUTES THAT SHOW NOTHING DO NOT
Record decisions even when there is a single director, because the record demonstrates the company acted rather than the individual.
MAKE SURE THE REGISTERED OFFICE IS AN ADDRESS WHERE POST IS ACTUALLY COLLECTED
Demands and proceedings are deemed received there, and companies lose cases over documents nobody saw.
VERIFY THAT FILINGS WERE ACTUALLY MADE, BECAUSE DELEGATION NEVER TRANSFERS THE OBLIGATION AND AGENTS FAIL
Lapsed filings accumulate penalties and can end with the company struck off and its property lost.
DIVIDENDS REQUIRE DISTRIBUTABLE PROFITS, WHICH IS NOT THE SAME THING AS CASH IN THE BANK
UPDATE BANK MANDATES THE DAY ANYONE LEAVES, AND SEPARATE WHOEVER INITIATES PAYMENTS FROM WHOEVER APPROVES THEM
AND PUT OWNERSHIP, ROLES AND SUCCESSION IN WRITING WHILE RELATIONS ARE GOOD, BECAUSE NONE OF IT CAN BE AGREED ONCE THERE IS A DISPUTE
