Your Duties As A Director

Many people enter into the role of Director without actually knowing the obligations and duties that accompany this role and the implications that can occur should these duties not be adhered to.

The duties of a director are governed by Chapter 2 of the Companies Act 2006. The main duties are specifically set out in Section 171 to Section 177 of the 2006 Act.

This article will discuss the duties of a director and will give you a brief outline that should clarify those duties. However, we would advise you to review Chapter 2 of the 2006 Act for you to fully understand and appreciate the duties that will be imposed on you should you act as a director.

Section 171: Duty to act within powers: