company law assignment

Masters
Essay
Law
Pages 10 (2510 words)
Download 0
The major purposes underlying the UK's Review of Company Law is to protect shareholder rights, to ensure directors' responsibility, to promote corporate governance - all of which will, in the end, facilitate a better policy environment for commerce and trade…

Introduction


This paper will provide a critical analysis as to whether the Companies Act 2006, specifically sections 171-188 thereof, has introduced significant changes in the law, or is merely a restatement of existing legal principles.
The provisions in question to be examined involve the duties of the director of a company. Indeed, in a company, virtually all policy-making is left in the hands of the Board of Directors or on the majority shareholders2. The definition of director given at section 741(1) of the Companies Act 1985 'includes any person occupying the position of director by whatever name called. This definition can also be found in the Insolvency Act 1986 section 251 and the Company Directors Disqualification Act 1986 section 22, where it is extended to include shadow directors. While allowing directors to control business strategies has merit - for instance, decision-making is streamlined and businesses largely depend on the need to be able to respond to issues not only with soundness but also with dispatch -- some problems inevitably arise.3
In theory, a director, holding as he does a position of trust, is a fiduciary of the corporationi. As such, in cases of conflict of his interest with those of the corporation, he cannot sacrifice the latter without incurring liability for his disloyal act. ...
Download paper
Not exactly what you need?

Related papers

company law assignment
Further, the text will analyze the merits and demerits of each structure. Various structure of business ventures exist in law, and it depends with the owner of the business to choose the one, which best suits his business. It is imperative to note that business structure decisions are the most significant decisions in any business set up (Boone & Kurtz 45). Though it is possible to alter the…
Company & Insolvency Law
whereas a floating charge is that which allows a company to undertake borrowings despite non possession of assets which may be specific in nature and the charges are placed on the company’s assets like its machinery, stock in trade etc. Before and at the onset of insolvency, fixed charge holders enjoy an unfettered right to enforce their debt repayments by dragging their debtors to court upon…
COMPANY LAW 402 ASSIGNMENT
We instituted legal research into this matter with a view of determining the suitability and legality of starting a Picture Framing business in Australia. We believe this goes towards the very crux of your matter. Further, we would like to state that our services can only be of a legal nature on this matter. It is your duty to seek out qualified professionals who will assess the proposed business…
Law Assignment
Any response that is not identical to the acceptable contract leads to a decline of the offer as a result of a counteroffer (Jane et al. 56). Additional terms are very vital in the case of ancient laws but in the modern laws, any additional terms do not change the offer and the court’s decision on the contract. The guiding rule that determines the court’s decision is the fact that the terms…
Law Assignment
The article reports various instances of individuals being convicted for issuing dishonoured cheques such as Ahmad Abdullah (48 years old, an Emirati currently serving undefined period of imprisonment), Rushdie (a Filipino, also serving an undefined period of imprisonment), Yousuf (28 years old European serving 9 years of jail), Angelito (a Filipino of 48 years old who served only 2 years of…
company law assignment
This paper will provide a critical analysis as to whether the Companies Act 2006, specifically sections 171-188 thereof, has introduced significant changes in the law, or is merely a restatement of existing legal principles.…
UK Company Law Assignment
Such authority is what is perceived by third parties to have been vested in an agent by the principal. The existence of such authority requires a representation to have been made to the third party. Such representation should originate from the principal or some entity having accrual authority3.…