Directors responsibilities
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Ownership and Management Issues
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Directors responsibilities
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for expert advice on this topic, contact:
Robert Lee
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Directors responsibilities
1. Do I need any special skills or qualifications to be a director?
2. What are my responsibilities to the shareholders?
3. Am I responsible to anyone other than the shareholders?
4. Can I have private dealings with a company I am a director of?
5. What should I do if I think I have a conflict of interest?
6. Are there any special rules about holding shares in a company I am a director of?
7. Are there any special rules about my contract of employment?
8. What returns do we have to make to Companies House?
9. Can we delegate responsibility for filings to the company secretary?
10. Do I need to read the company's memorandum and articles of association or any other documents?
11. Does it matter if I don't get to see management accounts and other information?
12. What is my responsibility for the company's accounts?
13. What board meetings do we need to have?
14. What shareholder meetings do we need to have?
15. Apart from company law, do I have any other legal obligations?
16. What are the possible penalties for failing to exercise my responsibilities as a director?
17. How can I protect myself from potential legal action?
18. Does a non-executive director have the same responsibilities?
19. Can I be held liable if I haven't been officially appointed as a director?
20. Can I be held liable if I have resigned as a director?
