company director

Becoming a Company Director and Your Responsibilities

Becoming a Company Director and Your Responsibilities

Directors of limited companies have to observe a range of rules and duties. Failure to follow these can result in fines, personal liability for the company’s debts, disqualification from acting as a director for up to 15 years and even imprisonment. This guide looks at the role and responsibilities of directors of limited companies, and at how to make sure you keep within the law. Who can be a director? Anyone can become a director, with a few exceptions: Anyone disqualified by the company’s own Articles of Association (the rules relating to the running of the company). An undischarged bankrupt. Someone disqualified by a court order. The company’s auditor. Directors don’t have to be shareholders or even employees of the company. If you do work full or part-time for the company, however, yo... »