Legal Duties of Directors of Community Benefit Societies
1. The Duty of Good Faith
Directors should act with honesty and integrity; treating information as confidential unless the board agrees to disclose it; supporting decisions that are agreed collectively, outside of meetings even if you personally disagree; acting in the best interests of the society and never to gain personal advantage; and declaring any conflicts of interest so that you are not acting in a position where your duties and responsibilities as a director conflicts with other personal interests.
2. The Duty to take care
Directors should exercise skill and care in carrying out your duties; undergo training or recruit additional directors if the board, individually and collectively, lack skills that the board would reasonably be expected to have; reading papers for meetings and properly in discussions; and carrying out your role to a high standard with commitment.
3. The Duty to obey the law
This includes following the rules of Greystoke CLT as well as conducting the CLT’s affairs lawfully.
Review
This Code of Conduct will be reviewed by the Board every three years, or sooner if required by changes in legislation, the CLT’s Rules or operational needs.
This policy was agreed by the board on 4th March 2026 and is next due for review in March 2029.