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The principal fiduciary duties of directors

The Law of Companies

Author:
Thomas B Courtney
Publisher:
Bloomsbury Professional
Edition:
Fourth edition
Law Stated At:
30 September 2016
Chapter 16: Directors: Fiduciary Duties and Personal Liability [A]: Directors’ Fiduciary Duties (a) Duty to act in good faith in what the director believes to be in the interests of the company: s 228(1)(a) (b) Duty to act honestly and responsibly in relation to the conduct of the affairs of the company: s 228(1)(b) (c) Duty to act in accordance with the company’s constitution and exercise the director’s powers only for the purposes allowed by law: s 228(1)(c) (d) Duty not to use the company’s property, information or opportunities for his or her own or anyone else’s benefit: s 228(1)(d) (e) Duty not to agree to restrict the director’s power to exercise an independent judgment: s 228(1)(e) (f) Duty to avoid any conflict between the director’s duties to the company and the director’s other (including personal) interests: s 228(1)(f) (g) Duty to exercise care, skill and diligence (h) Duty to ...

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