The Essential Duties of a Company Director

Being a company director can be a richly rewarding experience, but the role is not an easy one and it seems to get harder year by year. It is very important that all directors know exactly what is expected of them, the risks and what they must do. New additional feature - this seminar will highlight for you the new offence of failing to prevent bribery This extremely well designed seminar will help all those considering, or already in, this extremely responsible position understand exactly what is involved. It focuses throughout on real-life situations and is a guide to:

• The three different types of director
• Directors’ addresses and information that must be provided to the company and to the public
• Distinctions between directors
• Appointment and termination
• Officer of the company
• Directors’ general duties
• Board meetings

The seminar addresses issues that directors need to understand if they are to avoid exposing their companies and themselves to hefty penalties and the risk of having to pay compensation. The seminar does not dwell on the procedural matters that, in the absence of a Company Secretary, Company Directors have to concern themselves about - these are dealt with in a separate seminar, The Essentials of Company Administration. The seminar is an opportunity to master key basic facts and requirements about the role of a director. It is right up to date and is regularly updated to reflect the latest legal changes.

The seminar answers the following questions.

• What must a person do when they become a director?
• What types of directorship are there? - What is a shadow director?
• Does a non-executive director have the same rights and duties as an executive director?
• What are the consequences of using the word ‘director’ as a courtesy title?
• What are the consequences of failing to notify Companies House of a director’s appointment?
• Can a director keep their residential address private?
• Can a director keep their date of birth private?
• Does the Chair always have a casting vote?
• Does being declared bankrupt prevent a person being a director?
• Do all directors have the right to receive notice if their position is terminated?
• Are all directors employees?
• Are there circumstances in which payments to directors can be made without deduction of PAYE?
• What does it mean to be an Officer of the Company?
• Is every director an Officer of the Company?
• Do directors owe duties to ‘stakeholders’?
• Can a person buy a share then sue the directors for what they did last year?
• Can a service contract exempt a director from the consequences of being successfully sued for breach of one of the general duties?
• What are the seven general duties specified by the Companies Act?
• What is the so-called ‘first duty’ of directors?
• To what extent are directors permitted to be influenced by the wishes or instructions of others?
• Exactly what is meant by the ‘Duty to Exercise Reasonable Care, Skill and Diligence’?
• Can the directors authorise one of their number to have a conflict of interest?
• Can a director accept a benefit from a third party?
• Can a close relative of a director accept a benefit from a third party?
• In what circumstances can a conflict of interest be classed trivial?
• How could a company commit the new offence of failing to prevent bribery and what could be the impact on the directors?
• Can directors set their own rules for board meetings?
• After what period may the minutes of a board meeting be destroyed?
• Are telephone and e-mail board meetings allowed?
• What makes a good board meeting?