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Advice on governance and best practice

Whilst the new Corporate Governance Code may not apply to private companies, the general duties and responsibilities are introduced in the Companies Act 2006 in relation to a director promoting the success of the company and to exercise independent judgement, and avoid any conflict of interest between the director and the company, and not to accept any benefits from third parties which may influence any decision made by the director.

One of the principles of the Code is the effectiveness of the board of directors and that the board should have the appropriate balance of skills, experience, independence and knowledge. Whilst a private may not be able to fully meet such requirements, the Companies Act 2006 does require the board of directors to exercise reasonable care skill and diligence in their duties.

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Key Contact

Gary Miller


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