Common use of Directors’ Responsibilities Clause in Contracts

Directors’ Responsibilities. Gibraltar corporate law places onerous responsibilities on the directors of companies that must be adhered to. It is important that clients, when providing directorships to their own companies, know and understand what is legally required of them. The below is a list of the main responsibilities but there are others so the list must not be considered as exhaustive. Form-A-Co would be pleased to assist by providing guidance to clients on request. • To ensure that proper books of account are maintained and that formal annual accounts are prepared and filed with The Registrar of Companies. NB: Form-A-Co can provide book-keeping and accountancy services upon request.) • To ensure that current information is provided at all times to allow the company secretaries to maintain statutory registers, including registers of shareholders, directors and company secretaries, and registers of legal charges against the assets of the company.

Directors’ Responsibilities. Gibraltar corporate law places onerous responsibilities on the directors of companies that must be adhered to. It is important that clients, when providing directorships to their own companies, know and understand what is legally required of them. The below is a list of the main responsibilities but there are others so the list must not be considered as exhaustive. Form-A-Co would be pleased to assist by providing guidance to clients on request. •  To ensure that proper books of account are maintained and that formal annual accounts are prepared and filed with The Registrar of Companies. NB: Form-A-Co can provide book-keeping and accountancy services upon request.) •  To ensure that current information is provided at all times to allow the company secretaries to maintain statutory registers, including registers of shareholders, directors and company secretaries, and registers of legal charges against the assets of the company.