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Section 213 of the companies act 2016 provides that directors must; at all time exercise their power for a proper purpose and in good faith

Section 213 of the companies act 2016 provides that directors must;

  1. at all time exercise their power for a proper purpose and in good faith in the best interest of the company and exercise reasonable care, skills and diligence.

Based on this, answer the following questions;

  1. Discuss what exactly is " the best interest of the company"
  2. Elaborate on " exercise reasonable care, skill and diligence"

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