across the bar

New Companies Act tightens up director's duties

by Steve - Posted 13 June 2009

In recent years the various King Reports on Corporate Governance have recommended more accountability for directors of companies. These recommendations have found their way into the new Companies Act which was signed in April 2009. 

The Act introduces a number of important changes to the roles and duties of persons acting formally or informally as directors. The changes have been anticipated by most directors holding office in public companies. However, directors of smaller private companies are still going about their business as usual. With the threat of criminal sanctions and personal liability, we encourage all our clients who act as directors of their companies or other companies to come up to speed with the requirements of the new Act before it takes effect.

NicciFerguson offers one-on-one director training and support to entrepeneurs running private companies. Contact Steve or Nicci to find out more.