What records should be kept on each shareholder?

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I am at the helm of a new private limited company with a total of eight shareholders (for now). I understand that we’ve got to keep records on each shareholder in case regulators should come knocking, so I was curious what type of records we actually need to keep. Could someone please provide me with a brief outline?

Answers

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Company directors are responsible for keeping a number statutory registers, all of which must be made available for public inspection at the company's registered office or an alternative inspection location. One of these registers is the ‘register of members’ and it should contain the following details:

  • Name and contact address of each shareholder
  • For joint shareholders - the names of all joint shareholders should be recorded in the register, but only the address of the first named joint shareholder is required.
  • Date on which each person was registered as a member
  • Date at which any person ceased to be a member
  • The shares held by each member
  • The amount paid or agreed to be considered as paid on the shares of each member

Any change to shareholders’ details must be updated in the register of members immediately.

a year ago
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Why should companies keep recorded on each shareholder

10 months ago
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What are internal control procedures for fixed assets,trading stock,accounts receivable(debtors) and cash collect I on wondering if someone could help me please☺☺

10 months ago
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Fixed Assets:

All orders should be authorised All fixed assets should periodically be physically inspected Legal documents proving ownership should be kept in a safe place Details of fixed assets should be recorded in the journal & fixed asset register

9 months ago
 

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