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Re: who's club is it anyway.

By Halftime10/1 10:28Wed Jan 10 10:28:54 2024In response to Re: who's club is it anyway.

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The Companies Act 2006 states that any private limited company has to have at least one active director while public limited companies have to have at least two.

Any business that does not meet these minimum requirements will be held to be in direct breach of the legislation.

In the case of the resignation of a sole director, Companies House will get in touch to inform them of their responsibilities and let them know that they have to appoint a new director with a specific deadline.

If the business fails to do this then it will be struck off or dissolved. If this happens then any assets still judged to be owned by the business will either be auctioned off or they will become the property of the Crown under a convention called Bona Vacantia that we’ve written about previously.

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