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Directors' Liabilities

Provisions protecting directors from liability

Any arrangement that purports to exempt a director of a company (to any extent) from any liability that would otherwise attach to him in connection with any negligence, default, breach of duty or breach of trust to the company is void.

Any arrangement by which a company provides an indemnity for a director against any liability attaching to him in connection with any negligence, default or breach of trust in relation to the company of which he is a director is void, other than in certain situations with regard to the provision of insurance, third party indemnity provision or qualifying pension scheme indemnity provisions.

Introduction

An Introduction to the Companies Act 2006
Summary of sections of the Act

Timetable

Provisions commenced in January 2007
Provisions commenced in April 2007
Provisions commenced from 1 October 2007
Provisions commenced from 6 April 2008
Provisions commencing from 1 October 2008
Provisions commencing from 1 October 2009

The Act In Depth

Directors' Liabilities

Provisions protecting directors from liability

Introduction

Timetable

The Act In Depth

General

Directors

Accounts & Auditors