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Part III The General Duties of Directors, 10 General Duties 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: 23 July 2024

Approved person — Conduct of business regulation — Controlled activities — Regulated persons — Statutory duty

This chapter looks into the general duties of directors indicated in the Companies Act 2006. The codification of the provision was put in place following the recommendation of the Law Commission and the Scottish Law Commission in their report in 1999. The general duties revolve around several duties such as acting within the power, promoting the company's success, exercising independent judgement, and avoiding conflicts of interest. The chapter clarifies that the general duties apply to directors and de facto directors. It then explains the distinction between the director's fiduciary duties to other types of duties as per the Companies Act.

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