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“ … the collegiate or collective responsibility of the board of directors of a company is of fundamental importance to corporate governance under English company law. That collegiate or collective responsibility must however be based on individual responsibility. Each individual director owes duties to the company to inform himself about its affairs and to join with his co-directors in supervising and controlling them.
A proper degree of delegation and division of responsibility is of course permissible, and often necessary, but not a total abrogation of responsibility.”
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