Kent Solicitors

There is a new requirement for directors to act in a way which they consider in good faith would be most likely to promote the success of the company for the benefit of its members as a whole. In fulfilling this duty, directors must have regard for the likely long term consequences of any decision, the interests of the employees, the need to foster the companys relationships with suppliers customers and others, impact of the companys operations on the community and environment, the desirability of maintaining a reputation for high standards of business conduct and the need to act fairly as between members and the company

Labels: Director Duty Good Faith