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What are your new responsibilities as a Director?

When you become a company director, you sign up to take responsibility – with the rest of the Board – for the management of the company’s business. This means ensuring that the business complies with its statutory obligations, as well as taking part in operational and strategic decision making. When you become a director there are certain key responsibilities, defined by law, that you need to be aware of.

Directors’ legal responsibilities

  • Acting within your powers and only exercising these for the purpose for which they were given.
  • Promoting the “success” of the company, bearing in mind factors such as employee interests, relationships with any suppliers and the company’s reputation.
  • Exercising independent judgment i.e. you must be making your own decisions.
  • The expectation to act with reasonable care, skill and diligence. This expectation doesn’t require you to have knowledge or insight outside the scope of your experience, just the general knowledge, skill and experience of someone in your role and to the degree that you actually possess.
  • Ensuring that you avoid a situation that might be a conflict of interest. The conflict here is with the interests of the company and could be something like having multiple directorships or being an advisor to a competitor of the company. In some situations, a conflict will not cause an issue – for example, where it has been pre-authorised. Where there is a potential conflict, directors have a responsibility to seek the approval of the rest of the Board of Directors and to check the situation against the company’s Articles of Association.
  • Avoid accepting benefits from third parties. If you receive a benefit from a third party as a result of something you do or don’t do as a director then this could cause a problem.
  • Declaring relevant interests. If there is a transaction or arrangement with the company that you have a direct interest in then, as a director, you have a responsibility to declare this. This should be done before a transaction is entered into or, if the transaction has already taken place, as soon as is reasonably practical after that.

Directors who breach their legal responsibilities

If you are in breach of these duties then you could find yourself facing an injunction, damages or compensation – in some cases even a criminal fine. Some relief can be granted either by the company’s shareholders or the courts in certain situations. Director’s insurance will also ensure that you have a financial safety net should the worst occur.

What about other responsibilities?

Outside of legal duties, directors also have a number of other responsibilities including:

  • The company’s confidential information can only be used or disclosed for the benefit of the company.
  • Health and safety. Ensuring that the business is compliant in health and safety is a responsibility that falls to the directors.
  • Other obligations. Directors are also responsible for ensuring the company’s compliance with other obligations, such as environmental obligations and anti-corruption obligations.
  • Directors have a responsibility to seek advice as soon as possible where the business is in financial difficulty. This is especially important in order for directors to avoid potential personal liability under insolvency law.

Becoming a director is a significant step and one that you need to prepare for – our courses provide all the grounding you need in how to do the job well. Take a look at our Role and Responsibilities of a Director course today or give us a call on 01509 889632 to find out more.

In-House Training with PTP

PTP stands for Practical Training for Professionals and our aim is to make our training as practical as possible so delegates can return to the workplace with skills they can implement immediately. PTP now delivers training to over 40% of the FTSE 100.

What you get for your money

What is 1-to-1 training?

1-to-1 training can be based on any of the 100 plus courses that PTP provides, it includes an initial telephone conference of up to 1 hour, a 1/2 day (3.5 hours) on-site one to one training session at your premises with one of PTP's expert trainers and then a further telephone conference call of up to an hour within 2 weeks of the on-site visit.

You have the option of a line manager being involved in both telephone conferences, the second telephone conference which can be for feedback and action planning is generally scheduled during the on-site visit.

Who does 1-to-1 training suit?

Individuals taking on a new challenge or responsibilities. Professionals who want a trusted "sounding board" and thinking partner. Executives or managers who want to enhance their leadership effectiveness to achieve organizational and career success. Executives and professionals wanting to compete successfully but still retain balance in their life. Individuals who want to understand their blind spots so that they don't stand in their own way on their path to success. Executives and Professionals who want to improve their interpersonal skills so as to be more effective with bosses, peers, subordinates, or people in general. How much does 1-to-1 training cost?

A 1-to-1 training session costs from as little as £400 + VAT and will include an initial telephone conference of up to 1 hour, a 1/2 day (3.5 hours) on-site training at your premises and then a further telephone conference call of up to an hour within 2 weeks of the on-site visit.

What is U-Choose?

Choose from any of the 150 plus courses that PTP provides, and choose from 1 of our 50 plus UK wide training venues. You must book for 2 or more delegates and at least 4 weeks in advance, but that’s it, the course you want where you want it. The reason we ask for a minimum of 4 weeks notice is to enable us to market the course you have scheduled to other companies and organisations. However, if we fail to sell any additional places we guarantee to run the course just for you.

How much does U-Choose Training cost?

U-choose costs the same as our normal open courses i.e. the normal delegate rate. This includes lunch and refreshments throughout the day, framed certification and comprehensive training notes. A U-Choose booking can only be confirmed once we receive payment which can be made via credit/debit card, BACS or cheque. Payment is due at least 4 weeks before the date you request. Please note to be eligible for U-Choose you must book a minimum of 2 delegates on the same course & date.