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Written by Nicola McNeely, on 23-01-2009 10:12
In all work we do for clients, we are incorporating the new CA 2006 duties. For example, every set of board minutes has been tailored to deal with the new duties under the CA 2006. This is really important since the codified duties are wider than the general common law position. Unless proper account and record is made of decisions, taking into account the factors to which the directors must have regard, there is no record to show how the directors made their decision. Equally, how could the directors demonstrate compliance?  
 
In our experience, many companies are no aware of the extended duties.
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