Instructions: Answer both parts of the question set out below. All parts carry equal marks (the task is marked as one).
This assessment is worth 100% of your mark for the module.
Word Limit: Maximum 2000 words, excluding footnotes, bibliography
Written assignments must not exceed the specified maximum number of words. When a written assignment is marked, the excessive use of words beyond the word limit is reflected in the academic judgement of the piece of work which results in a lower mark being awarded for the piece of work.
Referencing: Work must be properly referenced and MUST use the OSCOLA system and include a reference list. For further guidance on OSCOLA
ASSESSMENT QUESTION
Ola was appointed on the Board of Directors of Lighthouse Pictures Ltd. However, she has no precise idea about the effect of what the Companies Act 2006 has had on directors’ duties. In fact, she did not know that directors’ duties are now regulated by statute law.
Using academic literature and case law, please advise Ola on:
(a) Whether the Companies Act 2006 completely abolished the directors’ duties as they were developed in common law and equity; and
(b) Whether today there are certain duties, the scope of which is not entirely clear, leaving Ola in an uncertain position as to the potential personal liability for non-compliance.
