| Commentary

42 Who owes the duties?

| Commentary

42 Who owes the duties?

The duties are owed by every person who is a director of a company that is, ‘any person occupying the position of director, by whatever name called’1. The duties are therefore owed by a de facto director in the same way and to the same extent that they are owed by a properly appointed director. Certain aspects of the duty to avoid conflicts of interest and the duty not to accept benefits from third parties continue to apply even when a person ceases to be a director2. If this were not

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