Company Directors’ Responsibilities
Company directors' responsibilities are wide and diverse. Their duties arise primarily from two sources: statute (Acts of the Oireachtas and other legislation e.g. EU Regulations) and common law.
Directors’ common law duties can be summarised into three principles:
Duties as a company officer under the Companies Acts;
Company Secretaries’ Responsibilities
A company secretary’s main functions are to oversee the company’s day to day administration and to ensure specifically that the company complies with the law and observes its own regulations.
Their duties may be summarised as follows:
Statutory Duties under the Companies Acts (usually in conjunction with a director);
Duty of disclosure of certain personal information;
Duty to exercise due care, skill and diligence
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New Guidance Available
The ODCE has issued 7 new information booklets and 7 new Quick Guides based on the Companies Act 2014. They cover the role of Companies, Company Directors, Company Secretaries etc.