Transcription of Directors’ Duties and Responsibilities - …
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Directors’ Duties and Responsibilities - …
CORPORATE SERVICES IMMIGRATION Directors Duties and Responsibilities 2 A. COMMON LAW Duties Directors are mainly responsible for the overall management of the company. In exercising their powers, they must act honestly with diligence and with reasonable skill. 1. Act in the Best Interests of the Company (a) A director must act in what he honestly considers to be the company s interests, and not in the interests of some other person or body. In discharging the Duties of his position, a director must: (i) act honestly and with the utmost good faith for the benefit of the company (he should not take into account either his personal interests (other than as shareholder of the company) or ties to family, friends or other)
2 A. COMMON LAW DUTIES Directors are mainly responsible for the overall management of the company. In exercising their powers, they must act honestly with diligence and with reasonable skill.
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