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Director's Responsibilities
The directors of a company have a trustee-like duty
to that company and its shareholders. In many cases the directors
and shareholders are one and the same people, but their positions
and the associated responsibilities, none-the-less, need to be
separately set out. In company law a director means a person who
is a member of the managing Board of a company, but the term can
be extended to include shadow directors, associate directors and
alternate directors.
Case law is continually evolving, to add to the
responsibilities imposed on directors through the statute book.
The key areas of duty and resposibility that directors need to understand
are:
- To act within powers.
- To promote the success of the company.
- To exercise independent judgement.
- To exercise reasonable care, skill and diligence.
- To avoid conflicts of interest.
- To not accept benefits from third parties.
- To declare interest in proposed transaction or arrangement.
Let us demystify these responsibilities by utilising
our Company
Secretarial services. In addition, we can assist by preparing
numerous documents for your signature, prior to filing with the
relevant Authorities.
Practical Examples of our Director's Responsibilities
Expertise
- Advising in relation to director's potential personal
liabilities when a company becomes insolvent.
- Attending meetings, to advise on procedure and take
minutes.
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