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:
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
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
interests of the company’s employees;
·
The need
to foster the company’s business relationships with suppliers, customers and
others;
The need
to foster the company’s business relationships with suppliers, customers and
others;
·
The
desiratiability of the company maintaining a reputation for high standards of
business conduct.
The
desiratiability 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.
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.