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I’ve heard about directors duties under the Companies Act. What are these?

What are Director’s Duties?

The Companies Act 2006 codifies certain common law and equitable duties of directors. In summary, the seven general duties under the 2006 Act are:

  • To act within powers.
  • To promote the success of the company.
  • To exercise independent judgment.
  • To exercise reasonable care, skill and diligence.
  • To avoid conflicts of interest.
  • Not to accept benefits from third parties.
  • To declare an interest in a proposed transaction or arrangement.
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