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Company Directors, Director Duties - Coggle Diagram
Company Directors
Has the authority and capacity to create legal relations between the principal (e.g Company, Shareholders as a group) and third parties (e.g Suppliers or customers of the company)
Have a duty to exercise their authority in accordance with all lawful instructions from their principal
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Owes a fiduciary duties to his principal and has a general duty to keep his principal informed of matters that his principal is concerned about
Has fiduciary duty to act in the best interests of the company includes not placing himself in a position where his personal interests conflicts with the company's interests
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Types of Directors
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Non-Excutive Directors
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Nominee Directors
For directors are used to acting in accordance with the instructions of another person must report their status as nominee directors to the company
Allowed to take into account the interests of their nominators provided there is no conflict with the company's interest
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