The Companies Act 2007

The Companies Act 2007 outlines the DUTIES OF DIRECTORS in a Company

(a) to act in good faith and in the best interests of the Company. (Section 187).
(b) to comply with the Act and the Company’s articles of association. (Section 188).
(c) not to actin a manner which is reckless or grossly negligent but to exercise the degree of skill and care that may reasonably be expected of a person of his knowledge and experience. (Section 189).
(d) to rely on and use information and advice received from others only if he knows that such reliance isnot unwarranted and if he is not put on notice after making adequate inquiries. (Section 190).
(e) to make disclosure of interests. (Section 192)
(f) not to use company information. (Section 197)
(g) to disclose share dealings. (Section 200)
(h) to approve remuneration and other benefits for directors only as provided for in Section 216.
(i) not to give loan or provide guarantee or security to a director unless permitted under Section 217.
(j) to act as provided for in Section 219 in the event of a situation of insolvency.
(k) to call an extra-ordinary general meeting if it appears that there will be serious loss of capital. (as provided for in Section 220).

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