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.