The company must ensure that the minutes contained in the corporate book, registers and other corporate documents required by law are prepared, kept and kept up to date.
In an SME, directors and managers generally handle this responsibility by carrying out the related tasks and ensuring that important decisions and changes concerning the company are properly documented.
The preparation and updating of the minutes book can be done internally or entrusted to a professional, such as a notary or lawyer. Using a professional can be particularly useful when setting up a company or when a transaction requires the preparation of specific corporate documents.
Even when document preparation is outsourced to a professional, the company must provide them with the necessary information regarding any changes to allow for the updating of its corporate documentation. This may include, for example, a change of director or officer, the issuance or transfer of shares, or any other decision that needs to be recorded.
It is better to update corporate documentation as these events occur rather than having to reconstruct it several years later.
In summary , the company must ensure that its corporate documentation is maintained and kept up to date. The preparation and updating of the minutes book can be done internally or outsourced to a professional, but the necessary information must be provided so that the documentation accurately reflects the company's situation.