- Preface
- New to this edition
- Table of cases
- Table of legislation
- Table of European legislation
- 1. Formation, classification, and registration of companies
- 2. The framework of company law
- 3. Corporate personality
- 4. Rules of attribution—corporate acts and liabilities
- 5. The company constitution
- 6. Corporate governance—board structure and shareholder engagement
- 7. Board composition—appointment and removal of directors
- 8. A statutory statement of directors’ duties
- 9. Duty to act within constitution and powers
- 10. Duty to promote the success of the company
- 11. Duty of care, skill, and independent judgement
- 12. Duty to avoid a conflict of interest
- 13. Specific conflicts—CA 2006, Part 10, Ch 4, and Ch 4A
- 14. Directors’ liabilities for breach of duty
- 15. Directors’ liabilities and vulnerable transactions on insolvency
- 16. Membership and the incidents of membership
- 17. Decision-making and company meetings
- 18. Informed shareholders and stakeholders—disclosure and the limited company
- 19. The unfairly prejudicial remedy and the minority shareholder
- 20. The derivative claim and the rule in <i>Foss v Harbottle</i>
- 21. Share capital—capital raising and payment
- 22. The doctrine of capital maintenance
- 23. Loan capital—secured creditors and company charges
- 24. Liquidation and dissolution—winding up the insolvent company
- Index
(p. 216) 10. Duty to promote the success of the company
- Chapter:
- (p. 216) 10. Duty to promote the success of the company
- Author(s):
Brenda Hannigan
- DOI:
- 10.1093/he/9780198787709.003.0010
At common law, directors have a duty to act bona fide in the interests of the company, which is restated in the Companies Act 2006 (CA 2006) s. 172(1) as a duty to act to promote the success of the company. This chapter separates that duty into its component elements and discusses each in turn. These include: the duty to act in good faith; the success of the company for the benefit of the members as a whole; having regard to various factors; and considering creditors' interests.
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- Preface
- New to this edition
- Table of cases
- Table of legislation
- Table of European legislation
- 1. Formation, classification, and registration of companies
- 2. The framework of company law
- 3. Corporate personality
- 4. Rules of attribution—corporate acts and liabilities
- 5. The company constitution
- 6. Corporate governance—board structure and shareholder engagement
- 7. Board composition—appointment and removal of directors
- 8. A statutory statement of directors’ duties
- 9. Duty to act within constitution and powers
- 10. Duty to promote the success of the company
- 11. Duty of care, skill, and independent judgement
- 12. Duty to avoid a conflict of interest
- 13. Specific conflicts—CA 2006, Part 10, Ch 4, and Ch 4A
- 14. Directors’ liabilities for breach of duty
- 15. Directors’ liabilities and vulnerable transactions on insolvency
- 16. Membership and the incidents of membership
- 17. Decision-making and company meetings
- 18. Informed shareholders and stakeholders—disclosure and the limited company
- 19. The unfairly prejudicial remedy and the minority shareholder
- 20. The derivative claim and the rule in <i>Foss v Harbottle</i>
- 21. Share capital—capital raising and payment
- 22. The doctrine of capital maintenance
- 23. Loan capital—secured creditors and company charges
- 24. Liquidation and dissolution—winding up the insolvent company
- Index
