Directors' duties—directors' interests: CA 2006, ss 175–177
Directors' duties—directors' interests: CA 2006, ss 175–177

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Directors' duties—directors' interests: CA 2006, ss 175–177
  • Duty to avoid conflicts of interest
  • Duty not to accept benefits from third parties
  • Duty to declare interests in proposed transactions or arrangements

The main directors’ duties developed by the courts were set out in statute for the first time in sections 171–177 of the Companies Act 2006 (CA 2006), and all of those statutory duties (general duties) are set out in Practice Note: Directors' duties—scope, nature, interpretation and application. The Chartered Governance Institute (formerly known as ICSA: The Governance Institute) (CGI) has also published guidance on directors' duties. See: The Chartered Governance Institute guidance on directors' general duties.

The fifth, sixth and seventh general duties are:

  1. the duty of a director to avoid a situation in which the director has, or can have, a direct or indirect interest that conflicts, or possibly may co