Directors – Duties, Conflicts & Loans

PLEASE BE AWARE THAT THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023 IS IN THE PROCESS OF BEING IMPLEMENTED AND WILL CHANGE MANY OF THE TEMPLATES BELOW. WE ARE CURRENTLY REVIEWING AND UPDATING ALL RELEVANT TEMPLATES. 

This subfolder details the duties of a Company Director in a private company as well as the law surrounding directors’ conflicts of interest and the making of loans by companies to directors in order to assist a company secretary or administrator managing these procedures.

It includes a Guidance Note: Directors’ Duties, Conflicts & Loans, which is a practical ‘how to’ guide for private companies covering the law surrounding directors, particularly in relation to their duties, conflicts of interest and any loans made to them by the company. These are all quite prescriptive areas of the law and the guidance note aims to de-mystify the various different common law and legislative requirements.

The other documents listed below are the shareholder resolutions, board minutes and letters that will be required in the process of adhering to the law in this area and are discussed in the covering Guidance Note.

• Guidance Note: Directors’ Duties, Conflicts & Loans
• Shareholders’ Ordinary Resolution - Enabling Directors to Authorise Conflicts of Interest
• Letter to Companies House – File Shareholder Resolution to Authorise Conflicts of Interest
• Board Minutes – Declaration Of Director's Interests
• Letter – Declaration of Director’s Interest in Proposed Transaction
• Letter - General Notice of a Director’s Interests
• Shareholders’ Ordinary Resolution to Approve a Substantial Property Transaction
• GDPR Memo to Board of Directors
• Board Minutes - GDPR Compliance
• Board Minutes – COVID 19 and Directors’ Duties

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