Directors' Duties

It is essential that you understand and meet your legal and contractual duties as a director, partner or sole trader. 

Running a business comes with wide-ranging legal duties and responsibilities. These duties will vary depending on whether you are:

  • a director of a private or public limited company;
  • a partner in a traditional partnership or limited liability partnership (LLP); or
  • a sole trader.  

Directors of a limited company

Directors of a limited company must understand the relationship between the common law and equitable duties and their general duties introduced by the Companies Act 2006.  

We can give practical and proactive advice to help you understand the often-complex regulatory landscape within which you operate and what is expected of you. This understanding will minimise the risk of you or your business being fined and/or subjected to criminal prosecutions for breach or non-compliance with the regulations.

We provide bespoke training for directors tailored to their particular type of company/sector to help those directors avoid any breach of their duties and responsibilities.

Directors in a joint venture company

A director of a company involved in a joint venture will often also be a director, senior officer or employee of one of the companies participating in the joint venture itself.  This can give rise to conflicts of interest and loyalty. It is therefore especially important for a director of a joint venture company to understand the nature of his duties and the persons to whom those duties are owed.  

Advising directors in the context of joint ventures is another area in which we have particular expertise.

Contact

For further information, please contact Keith Kennedy on 0161 684 6942 or make an enquiry. 

We can also advise you on your rights, duties and obligations as a partner or sole trader. Get in touch if you want to know more.

 

 

 

Latest Blogs

Due Diligence (cont)

Due Diligence (Part 2) What you need to do In the second part of this article we will be covering the scope of the investigation The scope of the investigation will need to cover various areas relating to the business and its affairs, for example: ...

Due Diligence

Due Diligence (Part 1) What is Due Diligence? A due diligence review is an independent investigation of the target business by the buyer and its advisers. In English law, the principle of “caveat emptor” or “buyer beware”...

GDPR - one year on it's not just all about emails

What have the changes, if anything been for businesses – we look at what has happened in the past 12 months and what you might have to plan for the future It’s been almost 12 months since businesses were all panicking about GDPR, here is Q &...

Directors' Duties - The do's and don'ts

  As a company director you are responsible for the day-to-day running of the business and accountable for its success or failure. According to the Companies Act 2006 (CA 2006) there are seven specific duties you need to observe: to act within...

Persons with Significant Control

One of the main objectives of Companies House’s ( CH ) business plan for 2018-2019 is corporate transparency. At the heart of CH’s business plan is the proper identification and accurate presentation of information relating to Persons with...