01142747576 bestadvice@knowleswarwick.com

Directors' liabilities

Companies Act provisions protecting directors from liability

The Companies Act prescribes that 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.

Knowles Warwick Financial Services button

Click here for the Quickbooks website Xero Gold Partner Accountants Sage accountants, experts in cloud accounting, Sheffield, South Yorkshire 

ICAEW Chartered Accountants B1G1 Business for Good Click here for the ACCA website 

Connect Yorkshire  Sheffield Chamber of Commerce Click here for the Caunce O'Hara website Steve Knowles Yorkshire Advisor of the Year 2019 finalist

Knowles Warwick Financial Services Limited is authorised and regulated by the Financial Conduct Authority (in respect of regulated investment, insurance and mortgage business). For regulated financial services, the Financial Ombudsman Service is the alternative dispute resolution provider.