Company Law Forum - Explaining Companies Act 2006 - Are directors of companies following the Companies Act 2006 or still carrying out their duties as de

Are directors of companies following the Companies Act 2006 or still carrying out their duties as de

Written by Josephine Tinsley

Tuesday, 23 December 2008

Hello,

The above discussion is an area of research that I am looking at. I am interested in getting Directors' opinions on whether or not they are following the new Companies Act (in particular the duties set out in section 170-180) or if they are simply following the common law rules they have followed previously. If anyone can provide any reply or opinion please do contact me,

Kind regards,

Josephine26

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Comments (1)

1. Written by Nicola McNeely, on 23-01-2009 09:12
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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