National laws in the EU recognise the EU Council Directive: Commercial Agents $($Council Directive$)$ Regulations $1993($as amended$)$ which applies to independent commercial agents who have a continuing authority to negotiate the sale or purchase of goods.

Post Brexit the EU directive remains part of the law of England, Wales, Scotland and Northern Ireland. Which statement below most accurately reflects the effect of the EU directive on the Principal and Agent relationship where the the parties have chosen English law as the choice of law in their contract and the contract does not excluded the common law of agency.

Select one from the options below:

The Commercial Agents $($Council Directive$)$ Regulations $1993($as amended$)$ impose new duties on Principals and Agents, in addition to those at common law: to act dutifully and in good faith; to disclose all info available to agent; to pay for reasonable work done; to give minimum notice of termination; entitlement to compensation for early termination.

The Commercial Agents $($Council Directive$)$ Regulations $1993($as amended$)$ impose new duties on Principals: to act dutifully and in good faith; to disclose all info available to agent; to pay for reasonable work done; to give minimum notice of termination; entitlement to compensation for early termination

The Commercial Agents $($Council Directive$)$ Regulations $1993($as amended$)$ impose new duties on Principals, in addition to those at common law: to act dutifully and in good faith; to disclose all info available to agent; to pay for reasonable work done; to give minimum notice of termination; entitlement to compensation for early termination.

The Commercial Agents $($Council Directive$)$ Regulations $1993($as amended$)$ impose new duties on Agents, in addition to those at common law: to act dutifully and in good faith; to disclose all info available to agent; to pay for reasonable work done; to give minimum notice of termination; entitlement to compensation for early termination