"A company must keep minutes of the meetings of the board, and any of its committees..." (Extract from the Companies Act)
Steinhoff and other high profile corporate scandals both here and overseas highlight the need for directors to ensure that their board and committee meetings (and the decisions taken at them) are correctly and accurately recorded.
The point is that as a company director you are given wide powers by our Companies Act, but you also have to comply with a raft of fiduciary duties and statutory responsibilities. Failure to do so exposes both your company and you personally to substantial risk.
A vitally important aspect of managing this risk is ensuring that proper minutes of your meetings are kept.