Banks and Co Secretaries

Banks and Co Secretaries

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A small corporate client excercised their option to do away with the Company Secretary. In practice the sole director does everything.

Upon submitting a change in their online banking mandate to NatWest he was asked for the signature of a director and a co. sec. The NatWest branch are refusing to accept that he is the sole officer. We intend to escalate this in NatWest but wonder if any others have come across ths ?

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Euan's picture
By Euan MacLennan
01st Feb 2010 15:28

No, but ...

A bank mandate probably counts as a deed which can be executed by a company only by two signatures - in this case, the sole director's and that of a witness to his signature.

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By gerrysims
01st Feb 2010 15:50

Thanks Euan, that makes sense. I'll go back to them and ask if any second signature is OK.

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By ChrisDL
01st Feb 2010 15:58

They don't understand...

I've had similar problems with CA06 incorporations with sole directors and even on one occassion a refusual to open a bank account for an LLPĀ because there was no company secretary. In practice we've had to find someone more senior at the bank to talk to so things can be moved along

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