Some sections of the new Companies Act came into force on 1 October 2007. These included those concerning derivative claims by shareholders and directors’ new statutory duties. The duty to promote the success of the company for the benefit of the members replaces the duty to act in the best interests of the company and requires directors to give proper consideration to certain factors, set out in statute, when reaching decisions. These include the interests of the company’s employees and the impact of the company’s operations on the community and the environment. Companies are being advised to check their director’s liability indemnity arrangements and D & O cover.