The Office of Director of Corporate Enforcement issued guidance on the printing of Directors’ names on company letterhead. The government carried out a study on the sources of administrative burden on businesses.
One of the conclusions was the significant administrative costs that businesses can incur where directors are either appointed or resign from the board of companies, where large stocks of pre-printed company stationery have been purchased.
The ODCE advise companies that there is no legal obligation for the directors’ names to be pre-printed on company stationery. There are no rules on the format, font or size of the text once it is legible.
The ODCE has advised that there should be a technological solution available to companies to over come the administrative costs including ordering company stationery without any directors’ names printed but the names are then added when the stationery is being used. This can include using a footer on Microsoft Word or other alternatives such as placing labels on each letter covering the original directors’ names with the revised list.
The ODCE guidance does not lessen the requirements to disclose but looks at practical solutions that companies can use to lessen the costs of printing company stationery.