Re Barings (No.5) [1999] 1 BCLC 433

Director must maintain sufficient knowledge of company’s business to enable them to discharge their duties as directors

Where director lawfully delegates power, is not entitled to place unquestioning reliance on others to do their job

• Rather must take reasonable steps to monitor delegee

Extent of this duty depends on facts

• Where delegee is trustworthy and competent, less supervision required

Directors occupied very senior position in company

Were paid very well

Had failed to comply with duties expected of them

• Thus disqualification order was justified.

Equitable Life Assurance Society v Bowley and Others

Item Software v Fassihi