Skip navigation.

» Responsibilities of company directors and managers

If your organisation is a company, it’s important to understand the responsibilities of its directors and managers.

Answer the following questions. If you answer any of the questions with “No” or “Unsure”, make it a priority to find out the relevant information as soon as possible.

Yes Unsure
/No
Do you understand the duties of directors:

  • to exercise their powers reasonable care, diligence and skill?
  • to act in the company’s best interests?
  • to exercise their power for a proper purpose?
  • not to use or disclose confidential information?
  • not to trade recklessly or incur obligations the company cannot meet?

Learn more: Companies and other legal forms
Do you understand the rules about:

  • annual meetings and special meetings?
  • delegation of directors’ duties?
  • interests and disclosure requirements?
  • reckless trading?
  • certificates?
  • remuneration, indemnity and insurance?

Learn more: Companies and other legal forms
Do you understand the requirements relating to:

  • accounts and annual reports?
  • records and registers?
  • issuing shares?

Learn more: Companies and other legal forms


Remember to print this checklist out once you've completed it.

1