Non-Executive Directors Also Bear Legal Responsibilities (Part 2)
Key Responsibilities of Directors
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Exercise Due Care and Diligence
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Act in the Company's Best Interest and Avoid Conflicts of Interest
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Report Misconduct or Unlawful Activities
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Fulfil Statutory Duties, including:
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Reviewing company accounts
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Filing taxes on time
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Submitting statutory documents to SSM
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Holding shareholders' meetings as required by law
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Potential Liabilities of Directors
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Directors may be held responsible if the company fails to pay EPF contributions or corporate income tax
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All directors, including Non-Executive Directors, may be penalized if the company fails to submit its Annual Return or Audit Report on time