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Part I Introduction, 1 Historical Introduction to the Law Relating to the Duties and Liabilities of Directors

Mark Arnold

From: Company Directors: Duties, Liabilities, and Remedies (4th Edition)

Edited By: Mark Arnold KC, Simon Mortimore KC

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 17 July 2024

Shareholder — Conduct of business regulation — Regulated persons — Capital requirement — Monetary obligations

This chapter presents the historical introduction of laws relating to the duties and liabilities of directors. It clarifies that directors of a company are identified by their functions instead of their descriptive title, as per the Joint Stock Companies Act 1844. Moreover, directors occupy a central position in the structure of company law, made up of statutory provisions supported by common law rules and equitable principles. The chapter then covers the changing functions and obligations of directors as reflected in the default articles prescribed for companies. It elaborates on the changes in statute law as they have affected the functions, duties, and liabilities of directors.

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