Directors' duties require acting in good faith, avoiding conflicts and undue gains, and face fines for breaches. Directors must act in accordance with the company's articles, in good faith to promote the company's objects and interests, exercising due and reasonable care, skill and diligence with independent judgment. They must avoid actual or potential conflicts of interest, refrain from obtaining undue gain for themselves or close associates (with disgorgement to the company), may not assign their office (such assignments are void), and face prescribed monetary penalties for breaches.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Directors' duties require acting in good faith, avoiding conflicts and undue gains, and face fines for breaches.
Directors must act in accordance with the company's articles, in good faith to promote the company's objects and interests, exercising due and reasonable care, skill and diligence with independent judgment. They must avoid actual or potential conflicts of interest, refrain from obtaining undue gain for themselves or close associates (with disgorgement to the company), may not assign their office (such assignments are void), and face prescribed monetary penalties for breaches.
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