Yes. The company's memorandum and articles of association set out the constitution of the company and its powers, which can include:
- Limitations on the 'objects' of the company, ie requiring the company to pursue a particular type of business.
- Limitations on the powers directors have, such as borrowing money.
- Rules on the numbers of directors, how they are appointed, and how decisions are taken.
- Details of any decisions which must be agreed by shareholders.
It is therefore essential that you know what the memorandum and articles contain, so that you can ensure that you act within them.
As far as other documents are concerned, you will want to be aware of everything which can help you fulfil your role as a director effectively. Documents you should always see include:
- Annual report and accounts.
- Management accounts.
- Bank balances, cash books and reconciliations.
- Strategy documents.
- Key policy documents (such as health and safety).
- Minutes of board meetings.
- Information on key products, services, personnel and so on.
