Sections 171 to 177 of the Companies Act 2006 (“the Act”) codified the duties owed by directors to their companies in equity and at common law. Section 170(4) of the Act states that the codified duties: “shall be interpreted and applied in the same way as common law rules or equitable principles, and regard shall be had to the corresponding common law rules and equitable principles in interpreting and applying the general duties.
