Directors' duties and Pension Protection Fund: Difference between pages

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''Company law.''
(PPF). An organisation set up by the UK government under pensions legislation to provide compensation to members of eligible defined benefit pension schemes, when an employer becomes insolvent.  


Directors' duties are the legal responsibilities of directors to promote the success of their companies.
This is similar to the Pension Benefit Guaranty Corporation (PBGC) in the US.


Directors' duties apply to de facto directors and shadow directors, as well as to formally appointed directors.
The Pension Protection Fund is also responsible for the Fraud Compensation Fund.  




The duties are owed to the company.
== See also ==
 
* [[Financial Assistance Scheme]]
They generally include:
* [[Fraud Compensation Fund]]
 
* [[Moral hazard]]
*Acting within the powers of the company's constitution, and exercising those powers for the purposes for which they are given.
* [[Pension Benefit Guaranty Corporation]]
*Acting in good faith to promote the success of the company for the benefit of its members as a whole.
* [[Pension Protection Fund Ombudsman]]
*Exercising independent judgement.
* [[Pensions Compensation Board]]
*Exercising reasonable skill, care and diligence.
* [[Pensions Regulator]]
*Avoiding conflicts of interest.
*Not accepting benefits from third parties.
*Declaring any interest in any proposed transaction or arrangement with the company.
 
 
In addition, company directors must also have regard to a number of other relevant factors and stakeholders when exercising their duties.
 
Under the UK's Companies Act 2006, these other factors are identified in Section 172.
 
 
==See also==
* [[Agent]]
* [[Company]]
* [[Company law]]
* [[Conflict of interest]]
* [[Constitution]]
* [[De facto director]]
* [[Director]]
* [[Duty]]
* [[Duty of care]]
* [[Employee]]
* [[Fiduciary duty]]
* [[Good faith]]
* [[Independence]]
* [[Judgement]]
* [[Member]]
* [[Section 172]]
* [[Segregation of duties]]
* [[Shadow director]]
* [[Shareholders]]
* [[Stakeholder]]
* [[Statutory duty]]
* [[Stewardship]]
* [[Third party]]
* [[Transaction]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Revision as of 14:08, 6 May 2013

(PPF). An organisation set up by the UK government under pensions legislation to provide compensation to members of eligible defined benefit pension schemes, when an employer becomes insolvent.

This is similar to the Pension Benefit Guaranty Corporation (PBGC) in the US.

The Pension Protection Fund is also responsible for the Fraud Compensation Fund.


See also

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