Companies Act 2014 section 158

General power of management and delegation

Section 158 sets out the general powers of directors to manage a company's business and their ability to delegate those powers.

• Directors manage the company's business and may exercise all company powers not reserved for the general meeting, subject to the constitution, the Act, and any special resolution directions from members
• Directions given by members at a general meeting cannot retroactively invalidate prior valid actions taken by the directors
• Directors have express authority to borrow money and to mortgage or charge the company's undertaking, property, and uncalled capital
• Directors may delegate any of their powers to committees or other persons, who must then comply with any regulations the directors impose