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In New Zealand, the Companies Act 1993 stipulates that all directors, whether executive or non-executive, owe a duty of care to the company. This is
In New Zealand, the Companies Act 1993 stipulates that all directors, whether executive or non-executive, owe a duty of care to the company. This is outlined in Section 137, which states that a director, when exercising powers or performing duties, must exercise the care, diligence, and skill that a reasonable director would exercise in the same circumstances taking into account, but without limitation, the nature of the company CA 1993 s 137(a); the nature of the decision CA 1993 s 137 (B); and the position of the director and the nature of the responsibilities undertaken by him (CA 1993 s 137 (c).shorten
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