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Company directors hold a significant position of power and trust, which comes with numerous legal compliance obligations.

Understanding these obligations is crucial to avoid serious consequences such as disqualification, reputational damage, fines, and even jail time.

To help you navigate these responsibilities, Anthony Satti (Practice Group Leader) and Michaela O’Connor (Senior Associate) will cover:

the role of a director;
general duties of a company director;
key directors' responsibilities and updating company information;
obligations under common law and other legislation;
penalties for breaching your duties; and
company indemnification and insurance.

About Anthony Satti
Anthony is a Practice Group Leader in LegalVision’s Corporate team. He has over 10 years of experience as a general commercial lawyer, having worked in private practice for a reputable boutique law firm and as in-house legal counsel. Anthony has extensive experience advising on the sale and purchase of businesses, shareholder agreements, business structuring and corporate compliance.

About Michaela O’Connor
Michaela is a Senior Associate in LegalVision’s Corporate and Commercial team. She specialises in Corporate law and has experience providing legal advice and assisting clients with business, share sales and financial transactions. She also provides advice on business structuring, restructuring, constitutional, membership and governance matters.

Visit legalvision.co.uk or call 0808 196 8584 to get in touch with our team.

00:00 Intro
01:47 Role of a Director
03:39 Sources of Duties
04:25 Company Director Duties - Set of 7 Duties under the Companies Act 2006
04:50 1. Act Within Your Powers
05:40 2. Promote the Success of the Company
09:05 3. Exercise Independent Judgement
09:53 4. Exercise Reasonable Care, Skill & Diligence
12:28 5. Avoid Conflicts of Interest
14:22 6. Not Accept Benefits from Third Parties
16:41 7. Declare Interest in Transactions
17:53 Common Law Duties
24:06 Other Obligations
27:02 Consequences for Breaching Duties
31:54 Q&A

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