Directors' duties 1,2

Question 1

s 171

Answer 1

Duty to act within powers

Question 2

s 172

Answer 2

Duty to promote the success of the company for the benefit of the members as a whole

Question 3

s 173

Answer 3

Duty to exercise independent judgment

Question 4

s 174

Answer 4

Duty to exercise reasonable care, skill and diligence

Question 5

s 175

Answer 5

Duty to avoid conflicts of interest

Question 6

s 176

Answer 6

Duty not to accept benefits from third parties

Question 7

s 177

Answer 7

Duty to declare any interest in a proposed transaction