Director’s Duties – Duty of care and skill
Directors have historically been subject to duties under company law. A director must exercise care and skill that can reasonably be expected of them. In Jurong Readymix Concrete Pte Ltd v Kaki Bukit Industrial Park Pte Ltd [2000] 4 SLR 723 the Court held that “A diligent director would be expected to seek the advice […]
Directors – Dealing with Conflicts of Interest #1
The reality is that with the world being so small, and networks being so important, most directors are going to face situations where there may be a conflict of interests. What could entail such situations? – Where a director stands to gain personally from information from the company or opportunities which they come into […]
Directors – Dealing with Conflicts of Interest #2
Where there is material conflict, voluntary resignation may be an option that has to be considered. Section 156 of the Company’s Act sets out disclosure requirements. These should be reflected in the company’s Constitution as well. 1. Disclosure of transactions with the company This is where a director is interested in a transaction that […]
