Directors are responsibility for complying with all legislation relevant to a company. It is their duty to ensure that their company complies with the law. Professional advice and assistance can be of considerable benefit to company directors to ensure they comply with their statutory duties.

Directors' duties
The conduct expected of all directors of every company, regardless of size, is now laid down in statute and it will be much easier to bring directors to account for failure to comply. The Companies Act sets out 'directors' statutory duties', which include duties to:

• act in accordance with the company's constitution
• promote the success of the company
• exercise independent judgement
• exercise reasonable care, skill and diligence
• avoid conflicts of interest and not accept benefits from third parties.

We can help business owners and managers interpret these duties and run their businesses in accordance with the regulations.

Company secretaries
All public and private limited companies with more than Rs. 30m turnover must appoint a suitably qualified company secretary to oversee the corporate compliance function. Although no longer obliged to have a qualified one by the Companies Act, many private limited companies also appoint a company secretary.

A company secretary's duties include:

• maintaining the statutory registers of members, directors and charges
• ensuring statutory forms are filed promptly
• recording resolutions and supplying copies of the accounts to the members.

Incorporation
Our corporate compliance staff can arrange for reservation of names for proposed company formation and  incorporation of new companies.