Directors' duties are the seven statutory obligations in the Companies Act, including acting within powers and avoiding conflicts of interest.
They are owed to the company, not to shareholders individually, and they do not switch off because a company is small or dormant. When a company nears insolvency the emphasis shifts towards creditors — which is the point at which directors most often need advice and least often take it.
Related terms
- Director — A director is a person appointed to manage a company, owing it seven statutory duties, whose appointment is published on the public register.
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