law: Co-Operative Societies Act 2008 
  74.
  
  Duty of care in directors and officers
  Every
  
  director and officer of a society exercising his powers and discharging his
  
  duties shall—
  a.      act honestly and in
  
  good faith with a view to the best interests of the society; and
  b.     exercise the care,
  
  diligence and skill that a reasonably prudent person would exercise in
  
  comparable circumstances.