If a company is likened to a small democratic nation, then its directors are its government. Once elected and in control, the directors have almost total power over the operation of the company until they are removed.

As with a democratic government, directors are answerable to the shareholders but historically, often actions complained of by shareholders have already taken place before the directors can be removed.

Using the Companies Act 1993 and any other relevant material answer the following questions

(a) Discuss the duties of directors in terms of Fiduciary, Solvency, Competency and Self-interest 

You should include, as a minimum, a discussion on relevant sections of the Companies Act and how these sections apply to control the directors behavior.

Answer rating: 100% (QA)

fiduciary duties as a director reflect a relationship of trust and loyalty between yourself the company its members and stakeholders The expectation is that you will act in good faith and in the best ... View the full answer