The provisions of Companies Act and the articles of association of the company spell out rights, duties powers and responsibilities of Directors. DUTIES, LIABILITIES AND RIGHTS OF A DIRECTOR UNDER NIGERIAN COMPANY LAW. Saurabh Agarwal (SPM- PDPU)’16 SCHOOL OF PETROLEUM MANAGEMENT GANDHINAGAR Assignment on : LEGAL ASPECTS OF BUSINESS Topic: As a Company Secretary of a newly started Petroleum Refinery advice the Management about the Position, Powers and Duties of Directors under the Companies Act, 2013 … The constitution sets out what powers you’re granted as a director, and the purpose of those powers. Directors may be liable to penalties if the company fails to carry out its statutory duties. International Journal of Law and Management. A company's directors; Directors' service contracts; Powers, duties and liabilities of directors; The company secretary; Transactions with directors; Topic Accounts and reports; AGMs; Audit; Banking and finance for corporate lawyers; Clause bank for corporate … Position, power and duty of Director under Companies Act,2013 1. The director plays a pivotal role in any company. The Company Director: Powers, Duties and Liabilities. Scheme of Presentation Appointment Roles Duties Liabilities 2. Who is a director An appointed or elected member of the board of directors of a company. Criminal liabilities of directors: So far we have dealt with the civil liability of directors. … Section 166 of the Companies Act 2013 states some of the duties of a director. They may exercise certain powers on behalf of the company, they owe certain duties to it and they may be exposed to certain liabilities in their capacity as directors. A director has to act in good faith to promote the object of the company for the benefits of its members. Powers, duties and liabilities of directors—overview. Duties of Director. Duties and Liabilities of Directors and Officers: ... 122 (1) Every director and officer of a corporation in exercising their powers and discharging their duties shall (b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. His position and role in the company inflict a great deal of duty upon him. Promote the success of the company You must act in the company… A private company is not required to appoint a company secretary and where no company secretary is appointed the duties and responsibilities of the company secretary will fall on the directors. He has the responsibility for determining and implementing the company’s policy. Books and journals Case studies Expert Briefings Open Access. Publication date: 11 May 2012. ISSN: 1754-243X. The Company Director: Powers, Duties and Liabilities provides comprehensive coverage, in a single volume, of the powers, legal obligations and responsibilities of executive and non-executive company directors. The Company Director: Powers, Duties and Liabilities - Author: Chris Taylor. Long before and up till now the position of a company director in Nigeria has always been regulated by a legal framework, which is embodied in a legislation called the Company and Allied Matters Act. The directors of a company are responsible for its day-to-day management. Advanced search. The complex re Directors role & liabilities 1. Chris Taylor. If the company is in the course of winding up, the court may, on the application of the liquidator, creditor or contributory examine in to the conduct of a director for any misfeasance or breach of trust in relation to the company. 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