Directors' duties are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them.
The Companies Act 2006 outlines the respective duties of a company Director.
In the past Directors' official responsibilities were unclear and open to interpretation which caused confusion, and prompted a more detailed and clear act which outlined the responsibilities and how to deal with conflicts of interest.
It is a central part of corporate law and corporate governance.
Navigating the complex issues and legislation surrounding conflicts of interest even with the Act and Section 175 as guidance can be difficult, we can assist in advising on the changing law, conflict solutions and approaching conflict of interests appropriately.
For more information on how we can assist, please get in touch.