Have a situation where the directors and shareholders of a close have historically taken voted dividends by way of a direct transfer to their personal bank accounts in accordance with the dividend vouchers.
2 of the 5 directors' for personal reasons would prefer to have their dividends credited to a their current account with the company. ( no cash cahanging hands)
The balance on their current account is nil or small cr balance.
The questions are:
Is it within the law to do so?
If it is than can only a propoetion of the director/shareholders opt to have their dividends credited to their current account?
Any response would be welcome.