(2) DIRECTORS’ DUTIES

A: INTRODUCTION TO DIRECTORS' DUTIES

39 Directors’ duties

Directors owe the following duties to the company1:

  1. 39.1

        to act within their powers;

  2. 39.2

        to promote the success of the company;

  3. 39.3

        to exercise independent judgment;

  4. 39.4

        to exercise reasonable care, skill and diligence;

  5. 39.5

        to avoid conflicts of interest;

  6. 39.6

        not to accept benefits from third parties; and

  7. 39.7

        to declare interests in a proposed transaction or arrangement with the company.

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial