Understanding the Directors’ Resolution in Writing (DRIW)
A Directors’ Resolution in Writing, commonly referred to as a DRIW, is a document that formalises decisions made by company directors. This is particularly useful when gathering all directors for an in-person meeting isn’t possible.
The company secretary must ensure that the DRIW is filed in the company’s minute book, either in hard copy or electronic form. The DRIW offers a practical and efficient solution for addressing urgent matters when directors cannot meet face-to-face. Resolutions that do not require shareholders’ involvement can be executed via a DRIW unless the company’s Memorandum and Articles of Association dictate otherwise.
Initiating a Directors’ Resolution in Writing
The company initiates the process by sending the proposed resolution text to each voting member via email, traditional mail, or the company’s website. The communication should also outline the timeline for casting votes and explain the voting process.
Directors can vote through various methods, including sending signed hard copies, verifying via email, or acknowledging on the company’s website. A resolution is successfully passed if the majority of directors approve unless the company’s constitution states otherwise.
A company needs to document its passed resolutions, including DRIWs, and maintain records for ten years from the date the resolution was passed. In the event of an audit, the auditors will review the dates and records of all DRIWs passed during the company’s financial year up until the date of the auditor’s report.
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To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
A Directors’ Resolution in Writing, commonly referred to as a DRIW, is a document that formalises decisions made by company directors. This is particularly useful when gathering all directors for an in-person meeting isn’t possible.