This is the best-selling practical guide for company directors, fully updated to reflect the new Companies Act. The new Companies Act is the longest Act ever and has wide-ranging implications for directors of all companies, large and small, public and private. The Act received Royal Assent in November 2006; there is a transition period and it will come fully into force in 2008 but all company directors need to grasp the significant changes to the law now. This new edition covers all the changes made by the Act with guidance on their implications for directors and action to be taken. Major changes include: directors need to be very aware of some crucial changes to the law which significantly increase their liabilities, eg: previously a director could not be liable for a wrong decision, if made in good faith - now shareholders can instigate legal action against any director for any action or omission which in their opinion has damaged the company.Thorogood Desktop Guides are a practical source of reference, guidance, techniques and best practice - packed with checklists, charts, do's and don'ts, summaries, special tips and case studies.