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Business Environment and Law-Company Management & Remuneration

Duties Of Directors- Company Management & Remuneration

   Posted On :  14.05.2018 09:57 pm

Duties Of Directors- Company Management & Remuneration

Duties Of Directors
 
1.Fiduciary duties and 2. Duties of care, skill and diligence.
 
a. Fiduciary Duties: As fiduciaries, the directors must
i. Exercise their powers honestly and bona fide for the benefit of the company as a whole and
ii. Not place themselves in a position in which there is a conflict between their duties to the company and their personal interests.

b. Duties of care, skill and diligence: Directors should carry out their duties with reasonable care and exercise such degree of skill and diligence as is reasonably expected of persons of their knowledge and status.
 

Other Duties Of Directors:

 
The other duties of a director are

1. To attend board meetings,
2. Not to delegate his functions except to the extent authorized by the Act or the constitution of the company, and
3. To disclose his interest.

 

Tags : Business Environment and Law-Company Management & Remuneration
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