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The Companies Act mandates that minutes of board meetings must be recorded and kept for at least 10 years, typically overseen by the company secretary, though the overall responsibility lies with the directors. The speaker emphasizes the significance of understanding the company's articles, as they can vary widely. Model articles apply unless modified at formation or later by shareholders. Directors are encouraged to be familiar with their articles, and there is an acknowledgment that not all directors might have access to these documents. The importance of this knowledge will be further explored in the context of conducting effective board meetings.