Director duties

  • A director owes duties to act in the best interests of the company.
  • Directors should remember a company is a separate entity to themselves and that they must while acting as a director, put the interests of the company first.
  • The law imposes personal liabilities on directors for many breaches of duty and companies are entitled to take action against directors for such breaches.

 

The directors of a company, collectively referred to as the board, are vested with authority to manage the company. A company must act through its authorised agents, the directors, and those acting under the authority of the board. Hence, companies can only contract through the signature of their directors and company secretary.

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