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Without a Business Continuity Plan, Principals and Company Directors are failing in their duty of care to stakeholders. They are also in danger of contravening the following regulations where they apply:
The Companies Act 2006
Since 1st October 2007, there are serious new obligations and implications for Company Directors. These present fresh challenges, and with so many things for directors to take into account in their decision-making process, it will be much easier for someone later to criticise a director’s decision and how it was reached.
As a Director, there remains a single duty: to decide on what is most likely to promote the company’s success, which the Government has defined as, “for commercial companies, ‘success’ will normally mean long term increase in value”.
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