What is the difference between a minute and a resolution

Although the minutes do not need to reflect every word said during a meeting, there are some critical aspects that should always be included in the meeting minutes:. In most cases, a member of the board who has been tasked with the responsibility will keep the minutes of a corporate board meeting.

This person is called the secretary of the board. A resolution during a meeting is any type of action taken by the members of the board that will apply to a certain action. Resolutions differ from bylaws in that the latter are rules that regulate the affairs of an organization and serve as its governing principles. During a shareholders or directors meeting, any resolution that the corporation's president and the secretary approves is called a certified corporate resolution.

Minutes: Minute is a brief, but complete record of all motion and resolutions that are taken based on the discussion held among the members in a meeting on the other hand. Resolution: A resolution is the decision of the meeting. It is a motion or a proposition with or without any amendment which has been adopted at the meeting.

A Minute is the official recording of the proceedings of the meeting and the decision reached therein. All minutes and resolutions need to be in writing and in English. If they are kept in an electronic format, they must be in a form that the Australian Tax Office can access and understand. It is vital that the Australian Tax Office is notified of certain changes to your fund in a timely manner. The ATO must be notified within 28 days of changes to the trustees, directors of the corporate trustee, members, contact details, address, or change in fund status.

The ATO advises that minutes of trustee meetings and any resolutions should be kept for a minimum of 10 years. Minutes include a statement of each resolution, a summary of its pertinent discussion, and the result of the vote on the resolution. A minute of the meeting is the overall record of what transpired in the meeting, including the name of the attendees.

Resolution of a meeting is when a complaint is solved, done. A minute is a written record of what has happened at a meeting. A resolution is a record of any decisions made at the meeting. Difference between Minutes and Resolution.