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Directors duties factsheet

The Companies Act 2006 (the Act) introduced new provisions on directors` duties, which came into force on 1 October 2007. 
 
The Act includes a statutory statement of directors` duties, which aims to clarify and codify the existing common law on directors` fiduciary duties.   These duties are based on, and have effect in place of, the common law rules and principles.  However, the new duties must be interpreted and applied in the same way as the common law rules, and so must be read in the context of case law.
 
 

Last updated on 06/01/2017 11:24:18 | #Contracts