Companies Act 2014
CHAPTER 2 General duties of directors and secretaries and liabilities of them and other officers | ||
Duty of each director | ||
223. (1) It is the duty of each director of a company to ensure that this Act is complied with by the company. | ||
(2) The breach by a director of the duty under subsection (1) shall not of itself affect— | ||
(a) the validity of any contract or other transaction, or | ||
(b) the enforceability, other than by the director in breach of that duty, of any contract or other transaction by any person, | ||
but nothing in this subsection affects the principles of liability of a third party where he or she has been an accessory to a breach of duty or has knowingly received a benefit therefrom. | ||
(3) The consent in respect of a director to accompany— | ||
(a) a statement under section 21 (1)(a), and | ||
(b) a notification under section 149 (8), | ||
shall include a statement by the director (immediately above his or her signature on the consent) in the following terms: | ||
“I acknowledge that, as a director, I have legal duties and obligations imposed by the Companies Act, other statutes and at common law.”. |