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Home | Services | Services for business | Regulatory compliance and risk management | Directors' duties
Directors' duties
Whether you are a new or an experienced company director you need to be aware of your responsibilities.
For the first time, the Companies Act 2006 has codified directors’ duties into seven general duties. You must comply with each and every applicable duty. These seven duties are not even the sum total of the duties that you owe to your company – you also continue to have duties under other areas of the law such as health and safety and under the Insolvency Act 1986.
The Act also introduced a new mechanism for enforcement against directors who have breached their duties - the derivative action. Shareholders can litigate against directors, increasing the possibility of a claim for damages being brought in respect of any of your new general duties.
We have experts in this area who can guide you through this regulatory minefield.
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Nigel Thorne
Partner
T: 03700 86 8821
I: +44 (0)118 965 8821
E: nigel.thorne@shoosmiths.co.uk