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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.
 
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