The position of Director carries a great deal of responsibility and duties within the company structure. While it is the shareholders who actually own the company, the directors are responsible for its actual management and running.
The duties of directors may be categorised in a dual manner, which are hose general duties arising out of their juridical position and administrative duties created through the specific provisions found in the Companies Act.
In addition to the duties of loyalty, directors are also bound to observe and adhere to a number of duties of care and skill. Directors also take on a number of duties relevant to that post. Complementing those duties found in the Companies Act with respect to the post of director itself, that includes statutory administrative duties.