Tips for Taking Board Meeting Minutes for Company Liquidation in UAE
By Space Coast Daily // February 19, 2021
The UAE Commercial Companies Law require business entities in UAE to take minutes and distribute them for all board meetings, including the meeting of the board of directors for company liquidation or winding down.
But, there’s no set of rules to follow on what items have to be in the minutes from a meeting for company liquidation in UAE. In this article, we’ll give you some tips to ensure that you include all of the necessary items and take effective minutes for a meeting of the board to liquidate. Let’s start!
Don’t try writing everything down
There is no way that you will be able to accurately write everything down as there will be a lot that will be said in a meeting for company liquidation. Also, writing everything down isn’t the purpose for minutes of meetings.
If you try to write down each word, you will be writing a lot more and understand and absorb less. When you try to add flesh onto the bones as to what you’ve written, it’s going to be very likely that you will recall almost none of what you’ve written down.
Your actual goal in taking minutes for the board meeting to liquidate is to capture the key details such as:
■ The main agenda item is the company liquidation, passing of a board resolution for undergoing company liquidation, and appointment of a company liquidator
■ Decisions that are made
■ The actions that need to be taken and when
■ The persons that are responsible for the actions
Focus on taking notes of the key information rather than the exact wording used during the meeting. Also, don’t be too harsh on yourself if you have missed some key points as you can simply ask the chairperson for clarification.
The meeting minutes must be neutral. It should not express any of your preferences of attendees or ideas. The legal document that you produce has to provide a clear and unbiased view regarding the decisions that were made during the meeting and discussions that took place.
Sit right next to the presiding officer
It’s important that you are sitting right next to the presiding officer or chairperson during the board meeting. You’re part of the administration or management team which means you should be sitting with them. If you sit in this position, it will also help in clearly hearing what everyone is saying during the meeting.
While you’ll have conducted preparations prior to the board meeting, it’s also crucial that you’re organized on the very day of the board meeting. If your pen happens to run out of ink then you have to get up and get a different one, it will not only look unprofessional but it will also cause unnecessary disruption.
If you’ll leave in the middle of the meeting, it’s unlikely that it will be stopped just for you. You’ll also miss discussions and decisions which can be very important, especially when a company decides to wind down and undergo company liquidation in UAE. Be aware that you’ll also be required in organizing equipment and making certain arrangements intended for the meeting.
Talk to the attendees prior to the meeting
Taking the time in contacting the attendees in advance will be a great way in preparing for a board meeting. It’s unlikely that you’ll have comprehensive knowledge regarding the decisions and discussions for the meeting. There is no need for you to have the same exact understanding as the attendees; however, it is going to be beneficial if you have some basic knowledge.
It will help you in identifying the important details which require recording during the meeting. Talking to attendees can also provide you with the opportunity in asking questions to improve your understanding on discussions and decisions.
Meet with the chairperson before the board meeting
The chairperson is the one in charge of managing and organizing a board meeting for company liquidation. He or she will be your point of contact should you have clarifications or queries.
While he or she should be meeting with you prior to the meeting, you can proactively schedule to speak with the chairperson. It is one of the responsibilities of the presiding officer to work with you and provide you with support. By taking notes, you’re providing the board a valuable service.
Take note: shareholder’s resolution and board meeting minutes for company liquidation in UAE need to be notarized. You can request for a mobile notary in UAE to attend by the end of the meeting in order to conduct the notarization or you can take the meeting minutes to a Private notary in Dubai after the meeting.
To talk to a public private notary in Dubai regarding the process of notarization of company liquidation documents contact experts.