Director’s Duties & Responsibilities
As a director of a limited company you must try to make the company a success, using your skills, experience and judgement. You must follow the rules as shown in its articles of association and make decisions for the benefit of the company and not yourself.
There are seven key director duties as per the Companies Act 2006
- To act within the powers of the company
- To promote the success of the company
- To exercise independent judgment
- To exercise reasonable care, skill & diligence
- To avoid conflicts of interest
- Not to accept benefits from third parties
- To declare, where applicable, any interest in a transaction or arrangement with the company
This is just the tip of the iceberg! Gibson Hewitt can advise and help make sense of all these directors duties and responsibilities. We are here to help you as much or as little as you like.