It is proposed that directors’ general duties to the company should be codified to give directors a clear and authoritative statement of what their duties are. Included in the proposals in this area are plans to produce clear guidance for new directors on what these duties mean.
It is proposed that Companies House will provide new directors with a general information leaflet, summarising the duties and responsibilities imposed by company legislation and insolvency law. Separate leaflets for private and public companies should be available.