A company must maintain statutory, financial and governance records sufficient to comply with the Companies Act and other applicable laws.
Important records
Depending on company type, these can include:
- shareholder register;
- debenture-holder register;
- share allotment and transfer records;
- board minutes;
- general-meeting minutes;
- accounting books;
- annual financial statements;
- audit reports;
- director disclosures;
- Memorandum and Articles;
- corporate resolutions;
- regulatory licences and approvals.
The Companies Act expressly requires minutes of general meetings to be maintained in a separate minute book. OCR also states that directors are responsible for preserving company documents.
Digital records
Use of CAMIS does not remove the company’s obligation to preserve its own legal and accounting records.