Directors Duties Flashcards
1
Q
Where are the directors duties
A
The directors duties are in the Companies Act 2006
2
Q
What is directors duty s.171
A
S.171 Duty to act within powers
3
Q
What does s.171 duty to act within powers mean
A
S.171 duty to act within powers means, Directors must act according to the companies constitution
4
Q
What is directors duty S.172
A
S.172 Duty to promote the success of the company
5
Q
What is directors duty S.173
A
S.173 Duty to exercise independent judgement
6
Q
What is directors duty S.174
A
S.174 Duty to exercise reasonable care, skill and diligence
7
Q
What is directors duty S.175
A
S.175 duty to avoid conflicts of interest
8
Q
What is directors duty S.176
A
S.176 Duty not to accept benefits from third parties
9
Q
What is directors duty S.177
A
S.177 Duty to declare interest in proposed transactions
