The Law of Directors Duties The law of Directors Duties stems from the systems of corporate governance in order to ensure that the persons occupying higher positions within the company will take good care of the company‚ as well as not act in a way that will create deficiency. There are 3 sources to the legal duties: the common law; the principles of equitable fiduciary duties; and the statutory duties stated under the Corporation Act section 180-183(Harris‚J.‚ 2008). The penalties of breach
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‘The director of a company owes a fiduciary duty to the company’. Do you agree with this statement? Introduction A company is a distinct legal entity created by statute. Companies have many of the same legal rights and obligations as do individuals. They can own and sell property‚ they can hold profits or acquire debts‚ they can enter into contracts and sue or be sued‚ and governments can tax them. Companies are advantageous primarily because they become legal entities that are separate and
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registered charities are run by board of directors that are voted in by members of an organization. These organizations are not owner operated. The board of directors for NFP’s and registered charities usually consists of individuals who are leaders or experienced professionals in their respective communities (Carters‚ 2011). No individual has the right to any residual earnings or share capital in these organizations. This report will discuss the roles of directors and how they must perform these
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...........................................................6 Value added statement..............................................................7 POFTI NIGERIA LIMITED CORPORATE INFORMATION FOR THE YEAR ENDED 31ST DECEMBER‚ 2008 1. BOARD OF DIRECTORS Mrs Olabisi Mr Damilare 2. REGISTERED OFFICE Plot 5&6‚ Remi Shofoluwe Road‚ Mile 12 Lagos 3. CORPORATE REFERENCE Registration number: GE 34859 4. BANKERS Zenith Bank plc‚ Lagos Diamond Bank plc‚ Lagos Oceanic
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Response Paper Q: Does the Board of Directors have responsibility to encourage socially responsible behavior? Why or why not? I do think that‚ for modern corporations‚ the Board of Directors have responsibilities to encourage socially responsible behavior. As we learned from the class lectures and Julia’s talk on last class‚ the Board of Directors is primarily loyal to shareholders and has the fiduciary duties of taking care of shareholder wealth. So the rising question now is: “Is Corporation
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RESOLUTIONS‚ MEETINGS & MINUTES UNDER THE COMPANIES ACT 1956 A Presentation by KAUSHIK M JHAVERI PRACTISING COMPANY SECRETARY E-Mail : kmjandco@gmail.com CS KAUSHIK M JHAVERI 1 RESOLUTIONS RESOLUTIONS : are records of formal decisions of Directors or Shareholders and are prefixed by the word “ RESOLVED”. q Resolutions are of 2 types: • Ordinary Resolution • Special Resolution CS KAUSHIK M JHAVERI 2 ORDINARY RESOLUTIONS Section189 (1) of Companies Act‚1956 ØA resolution shall be an
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Directors: Qualification/disqualification‚ appointment‚ duties and liabilities of directors. Also‚ explain ‘independent directors’ and their responsibilities. Company law in Malaysia is governed by Companies Act 1965. This Act is modelled on English Companies Act 1948 and Australian Uniform Companies Act 1961. Therefore‚ references will be made to English and Australian cases for interpretation of the law on certain areas. In every company there are directors to manage and direct the company.
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Introduction In a brief paragraph tell me what your firm does and what its primary products are. 1. Executive Compensation and Control From the firm’s Proxy Statements‚ compare the composition of the Board of Directors in 2011 (2012 Proxy) with 2006. What portion is “inside” versus “outside” directors? Now compare the compensation of the top executive and the top 5 between these two periods. How do they compensate their executives (i.e. regular salary‚ bonus‚ stock options‚ restricted stock‚ etc
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The Work of an Art-director in the Process of Shooting a Film The process of making a movie requires a lot of input from a lot of different people. From grips and production assistants to cinematographers‚ screenwriters and directors‚ no one is completely responsible for the success (or unfortunate failure) of any film. Art direction is one of the many jobs that play a pivotal role in getting something from the written word to the flickering images you see in your local multiplex every weekend
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“Funeral directors positions attract people who want to put their excellent organizational and communication skills to work and serve others‚” according to Copland (2015). Funeral directors have an important part in celebrating the life of those who have passed. From the first call to putting the body in the ground‚ funeral directors are there every step of the way. It takes education and a certain skill set to attend to the emotions of the deceased families. A funeral director must have certain
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