The Role of Company Directors: Duties, Responsibilities & Liabilities
Company directors play a vital an important role in the economy and the experience of serving on a company board can be a very enjoyable and rewarding experience. However, the duties and responsibilities imposed on directors by law have never been greater and care is required to ensure that directors comply with their duties and avoid incurring personal liability.
This informative and interactive full-day session has been created to provide new and existing directors (as well as senior managers and those considering becoming directors) with a solid understanding of the role, duties and responsibilities that are imposed upon directors and the potential risks if they fail to meet the required standards. It will assist companies and their boards demonstrate that they have taken positive steps to ensure that their directors have been properly inducted and fully understand their role, know how to manage risks effectively and help significantly reduce the chances of financial and personal penalties arising in the future.
This module aims to provide participants with:
- A thorough introduction to the “General Duties” of company directors set out in the Companies Act 2006 together with a summary of the other key areas of law that can impose legal duties and liabilities on directors;
- An understanding of the risks facing directors and the penalties and liabilities that can be incurred;
- Knowledge of the steps and procedures directors can undertake to protect themselves from personal liability
By the end of this module, participants will:
- Understand who the law considers to be a “director” and upon whom the legal duties and responsibilities of directors are imposed;
- Have a good understanding of the statutory General Duties of directors under the Companies Act and an awareness of the different sources from which legal duties can be placed on directors (eg the Insolvency Act 2006, health & safety legislation etc);
- Understand the minimum level of skill and care that all directors must exercise and the circumstances where a higher standard can be imposed;
- Be able to recognise conflicts of interest and understand how to utilise disclosure and ratification procedures to prevent directors breaching their duties in this complex area;
- Understand to whom directors owe their duties, how they can be enforced and what steps companies and their boards can take to manage or minimise these risks and protect directors from incurring personal liability.
For further details on this course, please click here.
The cost of the full-day course is £200 + VAT per delegate, inclusive of slide handouts, refreshments and lunch.
To book your place or to enquire, please contact Hayley.MacDonald@luptonfawcett.law. On-site training can also be delivered and details provided upon enquiry.