All private companies in Hong Kong are required to appoint at least one natural as a director. Directors carry out day to day management and control of the company.
Duties of directors
- Acting in good faith in the best interest of the company
- Using the power for the proper purpose for the best interest of the members
- Avoiding conflict of interests with the company
- Not gaining benefit out of the position
- Complying with the company’s own constitution
- Not delegating power (except with proper authorization)
- Not making unauthorised use of the company’s property
Resignation of directors
A written notice must be given and the resignation is usually effective on the date of its receipt. Furthermore, Companies Registry must be notified about the resignation (Form ND2A).
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