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directors powersequity regards directors as holding their powers on trust for the company they can only exercise those powers for the benefit of the
relief from liabilityunder s4021 the court has power in an action against an officer for breach of duty to grant relief where although the officer is
restatement of the fundamental rulein bray v ford lord herschell stated that the aforesaid rule is not founded upon principles of morality but is
provision of fiduciary duties - company managementthis provision is supplemented by article 84 of table a which provides that- i the director
fiduciary dutiesthe fiduciary duties of directors arising from their fiduciary relation to the company have been the subject of consideration in an
impose a duty on directorsa company is however free to impose a duty on its directors to attend board meetings within a certain period of time and to
directorship - company managementa directorship is not a professional job with a legally prescribed qualification in the circumstances anybody even a
duties of directorsthe duties of directors are usually considered under two broad headings namely-i duties of care and skill at common law andii
loans to directorssection 1911 renders unlawful any loan made by a company to a director of the company or its holding company it is also unlawful
compensation for loss of officea section 192 makes it unlawful for a company to make a director any payment by way of compensation for loss of office
directors remunerationfor technical reasons the directors are not regarded as servants or employees of the company of that they are directors
compensation for removalsubsection 6 provides that nothing in s185 shall be taken as depriving a removed director of compensation or damages payable
removal of directorsby s1851 a company may by ordinary resolution remove a director before the expiration of his period of office but notwithstanding
vacation of officein addition to vacating office under the aforesaid provisions of article 88 a person may cease to be a director for various reasons
notice of resignationregarding clause e above it was held in latchford premier cinema co v ennion that a verbal notice of resignation which is given
defects in appointments181 provides that a directors acts shall be valid despite any defect that may afterwards be discovered in his appointment or
undischarged bankruptss188 provides that if an undischarged bankrupt acts as director of any company without leave of the court he shall be liable to
qualification sharess1831 provides that it shall be the duty of every director who is by the articles of the company required to hold a specified
casual appointments article 95 permits the board of directors to fill a vacancy in the board or to get an additional director to join the board
appointment of directorsin the absence of other provisions in a companys articles the directors of the company would be appointed in accordance with
company managementa company being an artificial person cannot manage its own affairs it is therefore not surprising to find that the articles of
case law relating to dividendsthe above provisions of table a supplement the following common law rules1 losses in previous years
declaration and paymentthere is no provision in the act dealing with payment of dividends it is therefore governed by the provisions of the companys
dividendsas a commercial term the word dividends has a variable meaning which depends on the context in which it is used for purposes of company law
redemption of sharessection 60 1 empowers a company limited by shares to issue preference shares that are or may be at the option of the company are