Why you should buy A Director's Guide to Duties
Whether you set up your own company, join a board from outside or reach director level via an internal promotion you will need to be aware of the legal implications that attach to your role as a company director. These are known as directors' duties, some of which are codified in the Companies Act 2006. However, these codified duties are merely the tip of the legal iceberg of which directors have to be aware. There are numerous other duties ranging from maintaining proper accounts, making returns to the Registrar of Companies, and not trading the company after the point where an insolvent liquidation beckons. The book distils the rules into layman's language by looking at the role of the company director using a question and answer format such as:
"I've just been appointed as a director, what legal formalities do I need to comply with?"
"I want to borrow £20,000 from my company to buy myself a new car. Can I do this and, if so, how?"
"I want to defer my dividend, how do I do this?"
A Director's Guide to Duties is written for company directors including Managing Directors, Financial Directors and Operational Directors. It will be useful for sole directors of newly formed or recently set up companies and also of interest to advisers to company directors, solicitors and accountants who may wish to offer a copy of the book to their clients.
It is unusual for a foreword of book having two authors to be written merely by one of them, but it is hoped that the reason will soon become apparent. When I was asked by Jordan Publishing to write a book addressed to the layman about directors and their duties, I was delighted. However, while it is not difficult for a lawyer to write a text which is designed to be read by other lawyers or other similar professionals such as accountants and company secretaries, it is not quite so easy when the reader is likely to have no legal background knowledge. After all lawyers, just like the members of any other trade or profession, have their own idiosyncratic language, into which it is too easy to lapse. Read the full foreword...
This book takes the form of an extended case study which is based on the following scenario. It is structured around a series of questions which might be asked by people involved in the running of a company. The book is essentially aimed at the layman. For this reason technical references in the text are deliberately avoided. Read the full preface...
Table of contents
- Appointment and Formalities
- People Who Cannot Be Directors
- The Contract of Employment
- Termination of a Directorship
- The Capitalisation of the Company
- Articles and Shareholder Agreements
- Effective Management
- What Does the Board Do?
- The Role of the Members
- Rights of Members
- Directors’ Dealings with Their Companies
- The Codified Duties of Directors
- Corporate Governance
- Other Directors' Duties