Part 10A company’s directors
Chapter 2General duties of directors
The general duties
174Duty to exercise reasonable care, skill and diligence
1
A director of a company must exercise reasonable care, skill and diligence.
2
This means the care, skill and diligence that would be exercised by a reasonably diligent person with—
a
the general knowledge, skill and experience that may reasonably be expected of a person carrying out the functions carried out by the director in relation to the company, and
b
the general knowledge, skill and experience that the director has.