Specific Duties of Directors under the Companies Act
The Companies Act places duties on directors to observe the rules and regulations on company administration that are set out in the Companies Act.
Directors may be held liable for the failure of the company to comply with the certain provisions in the Companies Act.
The following are examples of such provisions (the list is not exhaustive) e.g.:
1. The duty to hold an AGM
2. The duty to submit an annual return
3. The duty to maintain proper accounts and to submit accounts for an annual audit
4. Not to pay out any dividends except out of distributable profits; and
5. The duty to declare any interest he may have in shares of the company or its related companies.
Contact Us
If you require a nominee director or help in this area, please contact us directly for a free consultation and quote.
