Discuss the advantages and disadvantages of having statutory statement of directors' duties

Discuss the advantages and disadvantages of having statutory statement of directors' duties

Introduction

The statutory statement of director's duty is considered the most controversial topic related to the long awaited company act of 2006, it was stated that the act would be implemented in 2008, however the government announced its immediate implementation on the 1st of October 2007. The duties presented are not out of the legislation and they are based on the common law including requirements that are in the best interest of the company and ensure conflicts are resolved ...