Statutory books are the official records regarding all then legal and statutory aspects of a company. According to the Companies Act, every company should create and maintain statutory books after its formation and registration at the Companies House.
The company is responsible for the maintenance and safeguarding of Statutory Books and should be kept at the registered office of the company. The company should also ensure that the statutory books are available for inspection in hard copy or electronic form for inspection.
The contents of the statutory books include the following:
• Register of company members.
• Register of directors.
• The Certificate of Incorporation of the company.
• Register of residential addresses of the directors.
• Register of charges registered in the name of the company.
• Names of people with formidable control over the company.
• Minute book along with copies of shareholder resolutions that have been passed already.
• Memorandum and Articles of Association.
• Company seal.
The Statutory Books are also known as Statutory Records. A company should maintain precise accounting records in the Statutory Books and maintain them for three years from the date of creation. The Statutory Books should include the details of all payments alongside the liabilities and assets of the company.
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