The first board meeting should be held within the first month from the date of incorporation. At this meeting, the appointment of the first directors of the company will be confirmed. Other things to be resolved at this meeting will be the common seal (not compulsory), share certificates and statutory books. Any other matters related to the company can be discussed at this meeting like the opening of the company bank account or the appointment of a company secretary.
Always remember that the directors are hired by the owners of the company which are the shareholders. This meeting is to document the progress of the company since the day of incorporation.
Once all the matters are brought up and discussed, they will be deemed to be resolved and all these issues will be documented in a resolution. This resolution is titled the first board resolution.
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
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