The Adastra Partnership Limited

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Sunday, 17 Dec 2017

Directors' Duties

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The role of the company director has until recently been defined by case law. The Companies Act 2006 confirms previous case law, although directors often still remain unaware of the extent and nature of their duties and responsibilities.

Directors are tasked with acting in a way most likely to promote the success of the business. They must exercise a degree of skill and care, at least to the extent that could be expected of a person with their knowledge and experience, whilst also acting as a reasonable person would do, looking after their own business.

It is imperative that directors act in good faith, in the interests of the company as a whole. This should include (but is not necessarily limited to):

  • treating all shareholders equally;
  • avoiding conflicts of interest;
  • declaring any conflicts of interest;
  • not making personal profits at the company's expense;
  • record keeping and keeping books of account;
  • not accepting benefits from third parties; and
  • obeying at all times the law:

Other laws to be mindful of as a director include areas such as health and safety, employment law and tax. 

Adastra can assist directors through the process of identifying and ensuring that obligations are fulfilled and potential liabilities that can arise from failing to adhere to the various legislative requirements are avoided.

It is important to remember that acting improperly can lead to fines, disqualification from being a director, personal liability for the company's debts or in the worst cases criminal convictions. In short, if in doubt, seek immediate advice.

Simply log your details using the following link, to arrange a free call back at your convenience, to discuss the ways in which Adastra can help you:

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Contact Adastra Partnership

Adastra Partnership Limited

Profex House, 25-27 School Lane,
Bushey, Hertfordshire, WD23 1SS

Telephone: + 44 (0) 20 8901 0226
Facsimile:  + 44 (0) 20 8901 0223