It's vital that directors know their duties and act within them. It is also key that breaches of those duties are recognised and addressed promptly. You want your organisation to reach the highest standards of corporate governance, but many directors are unaware of their duties under the law or the consequences for non-compliance. As these duties are owed by the director to the company, the company (or in certain limited circumstances the members of the company) may be able to bring an action against the director for any breach. The remedies available to the company range from an injunction, setting aside a transaction, restoration of company property held by the director and damages. In particular a failure of a director to disclose his interest in an existing transaction or arrangement could result in a criminal fine. There is also a risk that a breach of duty could be grounds for the termination of a director's service contract or the disqualification of a director under the Company Directors Disqualification Act 1986
Directors, particularly those who are perhaps based outside the UK, are often unaware that they are criminally liable for breaching their directors duties. Similarly, companies whose directors fail to act in accordance with their statutory duties risk their good standing and reputation. So ensuring that directors are fully aware of their duties provides protection for both and supports corporate governance best practice.
We work with companies of all sizes across a variety of sectors to deliver training that meets the needs of ther organisation and the number of directors requiring training. You can chose traditional face-to-face training, live webinars where directors are located across multiple sites or pre-recorded webinars that can be accessed at the convenience of the directors. That way, you ensure that training fits with your business strategy.
Topics can include:
- The responsibilites and obligations of UK company directors
- The sanctions for directors who fail to comply
- Real examples relevant to your business
- Any specific areas of concern for directors
- Breach of duties and sanctions.
- Practical measures that directors can take to ensure compliance with their duties
- Other legislation relevant to their directorship, such as the Bribery Act 2010
Contact us to find out how our training can help your business.