Directors' Duties

The Law Reform Commission submits for public comment an Issues Paper entitled "Directors' Duties – Is Statutory Codification Needed?"

The paper identifies several issues relating to whether the fiduciary duties and the duty of care, skill and diligence of company directors in the Cayman Islands should be codified in order to promote consistency, predictability, transparency and high standards of corporate governance.

Stakeholders and members of the general public are invited to respond to the issues identified in the paper and to indicate whether there are other areas that should be reformed in order to improve the corporate governance structures in the Cayman Islands.