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Directors' duties: directors' general duties under the Companies Act 2006
Practical Law UK Practice Note 7-376-4884 (Approx. 78 pages)
Directors' duties: directors' general duties under the Companies Act 2006
A practice note outlining the general duties of directors set out in the Companies Act 2006, including the core fiduciary duty to promote the success of the company for the benefit of its members (shareholders), having regard to a non-exhaustive list of factors (section 172). The note also addresses the common law rule under which directors of a financially distressed company must also consider, and sometimes act in, the interests of its creditors.
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