DUTIES OF DIRECTORS Directors of a company normally have exclusive power to manage the company’s business and exercise its powers. At common law‚ the duties were owed to the company‚ to employees‚ to individual shareholders and creditors. 1.0 Duties of Directors to the company It is convenient to categorise the duties of directors into fiduciary duties which arise because they are quasi-trustees of the assets of the company. The word ‘fiduciary’ refers to trust and confidence. ‘A fiduciary is
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❖ S 9: “Officer” includes directors‚ secretaries‚ receivers‚ administrators‚ liquidators‚ administrating trustees. ❖ S 9: “Director” includes shadow & de facto directors. enforcement of directors’ duties enforcement of statutory duties Civil penalties Who may apply for a Declaration or Order? ❖ S 1317J(1): ASIC may apply for a declaration of contravention‚ a pecuniary penalty order or a compensation order. ❖ S 1317J(2): The company may apply for a compensation order. ❖
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In tort law‚ a duty of care is a legal obligation which is imposed on an individual requiring adherence to a standard of reasonable care while performing any acts that could foreseeably harm others. It is the first element that must be established to proceed with an action in negligence. The claimant must be able to show a duty of care imposed by law which the defendant has breached. In turn‚ breaching a duty may subject an individual to liability. The duty of care may be imposed by operation of
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a few things you should know... like the term ’Duty of care’......it means providing care and support for individuals within the law and also within the policies‚ procedures and agreed ways of working of your employer. It is about avoiding abuse and injury to individuals‚ their friends and family and their property. A negligent act could be unintentional‚ careless or intentional that results in abuse or injury. A negligent act is breaching the duty of care. If an individual has evidence that you
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There are many interesting places in the world to visit. Many places are interesting because of their popularity‚ some are interesting because of the climate and some are interesting because they are always on the news. Chicago‚ St Petersburg and Armenia are three places in the world that have an interesting history. Chicago is part of Illinois which is one of states of the U.S.. Chicago is not English word. It’s the word form one of languages used by Indians. It means the strong smell. This
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Duty of care Define the term ‘duty of care’ Duty of care means that you must aim to provide high quality care to the best of your ability and to ensure the well being of the service users. We all have a duty of care to consider the effects of our actions upon other people who may be affected. In the workplace you have policies and procedures that you have to follow. These policies and procedures will affect your role as a carer. Describe how the duty of care affects own work role I keep my
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spite of the government’s best efforts to give them education‚ the situation has become very dismal. Evaluate the pathetic situation of child labour with a few examples from daily life. 2.Which in your opinion is more important a healthy body or a healthy mind? Substantiate your answer. 3.Imagine a situation in which a character from your favourite book comes alive and visits you. Write an imaginary account of a day spent with this character. 4.Write a short story with an alien‚ a business man
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Duty of Care In a work setting where we are working with children our duty of care is of utmost importance‚ we need to ensure that we do everything within our power to ensure that children and young people that use our setting get the best care possible and that no harm comes to them. When working with children and young people we not only have a duty of care to the children but also to their parents and carers who will be trusting and expecting us to provide the best care for their children. A
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DUTY OF CARE A Tort is a civil wrong‚ which is an action brought to enforce‚ redress or protect rights or noncriminal litigation. There are many Torts‚ however‚ of importance is Negligence. Negligence is the failure to do something a person of ordinary prudence would do. Negligence protect against personal injury‚ damage to property and economic loss. In order to establish negligence four elements must be established. Firstly‚ the plaintiff must prove that a duty of care was owed. Secondly‚ the
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Cicero’s definition of duty is a term in which in this course‚ is far reached than what we would have ever thought duty would stand for. Defining duty can be said to be a commitment or obligation to someone or something that causes them to pursue a certain action. Duty is split into two parts which consist of dealing with what is the “supreme” good and second‚ practicing rules which are strictly regulated in all means of daily life. Another classification of duties are duties which are middle or complete
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