Companies Act 2014 section 223

Duty of each director

Section 223 sets out the general duty of each director of a company to ensure the company complies with the Companies Act, and requires directors to formally acknowledge their legal responsibilities.

• Every director has a personal duty to ensure the company complies with the Companies Act
• A director's breach of this duty does not invalidate contracts or transactions entered into by the company
• Third parties who knowingly assisted in or benefited from a breach of duty remain liable under general principles
• Directors must sign a written acknowledgement of their legal duties when consenting to appointment