Why minute taking matters more than you think

Minute taking is often underestimated. To some, it may appear to be a simple administrative task. In reality, board minutes are one of the most important governance tools a company has. They protect directors, demonstrate compliance, and provide a reliable record of how decisions were reached.

At Virteffic, we see every day how well-prepared minutes strengthen governance and protect boards across Jersey, Guernsey, the UK, and beyond. Having supported a wide range of regulated and unregulated companies, we know that effective minute taking is not optional but essential.

Why minute taking matters for regulated companies

For regulated companies, the importance of high-quality board minutes cannot be overstated. Regulators want to see evidence that boards are exercising sound judgement, managing risk, and making decisions responsibly. Minutes are often the first documents reviewed during inspections or thematic visits.

Incomplete or poorly drafted minutes can create risk by suggesting inadequate oversight or weak compliance. Clear, accurate, and timely records provide reassurance that directors are acting lawfully and in the best interests of the company.

This is particularly important in Jersey, where directors are under close scrutiny in areas such as anti-money laundering, economic substance, ESG, and risk management. Minutes form the evidential record of how these matters are considered and addressed at board level.

Key reasons why minutes are crucial

• Legal requirement: Minutes are not just good practice; they are a legal obligation. Under Article 98 of the Companies (Jersey) Law 1991, companies must keep minutes of all board meetings and retain them for at least ten years. Failure to comply is a criminal offence for both the company and its directors.
• Prima facie evidence: Signed minutes are prima facie evidence of decisions taken. They are presumed to be accurate unless proven otherwise. Good minutes document the reasoning behind decisions, serve as proof in disputes, and protect directors by recording the basis of their actions.
• Compliance with economic substance laws: The Taxation (Companies – Economic Substance) (Jersey) Law 2019 requires companies to hold board meetings in Jersey, with a quorum of directors physically present, and to document strategic decisions in their minutes. Records must also be maintained in Jersey. Well-prepared minutes are critical in demonstrating compliance.
• Credibility and professionalism: Minutes reflect the professionalism of the board. High-quality records show that directors are meeting their duties and managing affairs responsibly. Poorly written minutes, in contrast, can undermine confidence and raise questions about accountability.
• Due diligence: Minutes are vital during due diligence for mergers, acquisitions, or investigations. They provide insight into governance and decision-making history. Detailed and accurate records demonstrate that the board acted responsibly and with care.
• Action and follow-up: Minutes are not just a record of what has been discussed; they are a tool for action. By setting out agreed decisions, they provide a clear roadmap for follow-up. An action log, used alongside minutes, helps track responsibilities and deadlines to ensure that decisions are implemented effectively.

How Virteffic can help

At Virteffic, we specialise in board and committee minute taking for regulated companies, professional firms, and charities. Our service combines governance knowledge, regulatory awareness, and a careful approach to detail.

We tailor our support to your needs, whether you require live attendance, drafting from recordings, or post-meeting assistance. Every set of minutes is reviewed for accuracy and consistency, and always aligned with the board’s preferred style and culture.

With five years of proven experience supporting boards across Jersey, Guernsey, the UK, and the Cayman Islands, we are trusted to provide confidential, reliable, and expert governance support.

Let us support your governance journey

High-quality minutes are not paperwork to be filed away; they are the foundation of effective governance. If you want to strengthen your processes, protect your directors, and ensure compliance with Jersey company law and economic substance requirements, Virteffic can help.

Get in touch today to arrange a discovery call and see how we can support your board.

All the best
Tess