The more qualified or experienced you are, the greater the standard expected of you. You must perform to the best of your ability. Exercise reasonable care, skill and diligence You can accept advice, but you must use your own independent judgement to make final decisions. You must not allow other people to control your powers as a director. A creditor is anyone owed money by the company. If the company becomes insolvent, your responsibilities as director will apply towards the creditors, instead of the company. need to act fairly to all members of the company.company’s reputation for high standards of business conduct.impact of its operations on the community and environment.need to support business relationships with suppliers, customers and others.consequences of decisions, including the long term.You must act in the company’s best interests to promote its success. The constitution sets out what powers you’re granted as a director, and the purpose of those powers. These are written rules about running the company, agreed by the members, directors and the company secretary. You must follow the company’s constitution and its articles of association. you control a board of directors without being on it.you act as a director but have not been formally appointed.you’re not active in your role as director.General duties of a directorĪs a director, you must perform a set of 7 duties under the Companies Act 2006. You can hire other people to manage some of these things day-to-day (for example, an accountant) but you’re still legally responsible for your company’s records, accounts and performance. any change in your company’s people with significant control (PSC) details.
a change to your company’s registered office.any change in your company’s officers or their personal details.the annual accounts, even if they’re dormant.Being a company director Your responsibilities to Companies HouseĪs a director, you’re legally responsible for running the company and making sure information is sent to us on time.
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