Companies act 2006

The companies act 2006 incorporates within it specific
duties of directors. Among other things 172 lays down a specific duty on a
company director to:
·        
Act in the way he considers, in good faith, would be
most likely to promote the success of the company for the benefit of its
members as a whole and to have regard to:

·        
The interests of the company’s employees;
·        
The need to foster the company’s business
relationships with suppliers, customers and others;
·        
The desirability of the company maintaining a
reputation for high standards of business conduct.
For the first time there is
a specific prevision, in law, for the directors to have regard to the
interests, not only of those who have invested in the company over which they
have day-to-day control but also of others, employees, customers, suppliers and
indeed-in its injunction to maintain a high standard of conduct-anyone the
business comes into contact with in the course of its activities.

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