A board member is a person elected to sit on the board of a limited company. The board is responsible for the company's organisation and management, and is normally elected by the general meeting.
It is the board's responsibility to ensure the company's share ledger is set up, kept up to date and available. If a board member fails to keep it correct, it can lead to liability under the Companies Act. A deputy board member can step in when an ordinary member is unable to serve. A digital share ledger makes the board's duty easier to meet.
The board of directors is the body elected by the general meeting to manage the company.
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A deputy board member is a substitute who can step in for an ordinary board member.
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The general meeting is the highest decision-making body in a limited company, where shareholders make decisions.
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A share ledger is a record of a company's shares and who its shareholders are.
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Streamline the management of your ownership with an online digital share register – get started for free in minutes and let our guides help you easily handle everything from ownership changes to complex processes such as share issues, whether you are a large or small company.
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