The legislation specifically lists eight directors’ duties but the list is not exhaustive. Many of these duties are currently defined at common law but without full clarity. The duties are summarised as follows; 1. To act in good faith in the interests of the company; 2. To act honestly and responsibly in relation to the company’s affairs; 3. To act lawfully and in accordance with the company’s constitution; 4. Not to use the company’s property unless permitted to by the constitution or approved by shareholder resolution; 5. Generally not to agree to a limitation on the exercise of directors powers unless permitted by the constitution; 6. To avoid conflicts of interest; 7. To exercise reasonable care, skill and diligence; 8. To have regard to the interests of the company’s employees and members. What questions about Companies Bill 2012 do you have? Feel free to contact Paul on +353 (0) 1 677 9000 or by email for a complimentary confidential consultation. Paul Leonard is a Partner at Cooney Carey. Paul has 20+ years of experience working as a business adviser and his areas of expertise are: audit, forensic accountant in investigations and a range of legal cases including family law matters, bank negotiations, business re-structuring, company valuations and dispute resolution. His qualifications include being a Fellow of the Institute of Chartered Accountants in Ireland, a Chartered Management Consultant, a qualified Forensic Accountant and an Accredited Mediator.