The big idea
A company director has responsibility for running the business. A limited company must have at least one director. For some time the responsibilities of directors were determined by case law. As of The Companies Act 2006, the requirements of directors were set out formally and you are expected to act in such a way that you ‘promote the success of the business’.
This tool outlines the key responsibilities expected of you as a company director. It also acts as a checklist if you are considering setting up your own company and becoming a company director. It focuses on limited companies and does not cover the responsibilities of charity trustees.
The appointment of directors must comply with the company’s Articles of Association, which will specify:
- How many directors there should be
- How long the directors can serve
- What happens at the end of each director’s term of service
This tool will help you understand the key responsibilities of being a company director. It is a quick quiz that can be done on your own or with a colleague.