POWERS AND DUTIES OF DIRECTORS POWER OF BOARD OF DIRECTORS - SOURCES • The Companies Act 1956 • Section 179 - General Powers enjoyed by board of directors • Board of directors and Company are co-extensive: directors are entitled to exercise all powers as the a company is authorized to exercise and do • Articles of Association • Board Resolutions • Resolutions in General Meetings • Agreements/Contracts with Company SECTION 179 AND 180 – POWERS IN DETAIL • General Powers Include
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Chapter 16 | Hiring and Managing Employees #1) It was announced in January 2003 that the current managing director of the Indian subsidiary of Tel-Comm-Tek (TCT) would resign within a month. TCT immediately began searching for a replacement based upon the following preferences: desire to promote from within‚ selection from a mix of nationals‚ and an emphasis on international experience. A selection committee was chosen to nominate the new managing director for TCT India and the following six
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Hampton Park Pty Ltd (HP) Synopsis. In the case study of Hampton Park Pty Ltd (HP) has four directors; William (Managing Director); Susan‚ Jack and Gail (Non-executive directors). As HP’s financial position begins to deteriorate‚ George‚ the Chief Financial Officer of the company advises the accounts still show a profit and the company would have a solid base to pay out a dividend to its members. In July 2010cHP’s financial state worsens however George declares a technical profit and advises HP
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Introduction The board is made up of individual men and women (the "directors") who are elected by the shareholders for multiple-year terms. Many companies operate on a rotating system so that only a fraction of the directors are up for election each year; this makes it much more difficult for a complete board change to take place due to a hostile takeover. In most cases‚ directors either‚ 1.) Have a vested interest in the company‚ 2.) Work in the upper management of
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Fiduciary Duties of Directors 1) Duty to act in good faith in the interests of the company In Re W & M Roith Ltd [1967] 1 All ER 427‚ the controlling director of a company had given many years services without having a service contract. He was then given a service agreement providing for payment of a pension to his widow if he died while still a director. He was already in poor health at this time and he died two months later. The pension was paid for several years and then the company went into
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Indicative Independent Director The purpose of identifying and appointing independent directors is to ensure that the board includes directors who can effectively exercise their best judgment for the exclusive benefit of the Company‚ judgment that is not clouded by real or perceived conflicts of interest. IFC expects that in each case where a director is identified as “independent” the board of directors will affirmatively determine that such director meets the requirements established by the
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Knysna Attractions - Garden Route - South Africa Knysna Elephant Park 044 532 7732 between Knysna&Plettenberg Baywww.knysnaelephantpark.co.za Knysna Elephant Park provides a home for orphaned elephants. Join the elephants in their free-range controlled environment where you will be able to appreciate their magnificent presence up-close-and-personal. Adventure Land 044 532 7869 www.adventurelandplett.co.za between Knysna&Plettenberg Bay Adventure Land is a water park on a 24 hectare property
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DuBrin A.J.‚ 2008‚ Essentials of Management‚ 8th edition‚ South-Western Cengage Learning‚ Mason‚ USA. 2. Heery‚ E & Noon‚ M 2001‚ Human Resource Management‚ 1st edition‚ Oxford University Press‚ USA. 3. Sherman‚ A & Colander‚ G &Snell‚ S 1998‚ Managing Human Resources‚11th edition‚ South-Western Collage Publishing‚ Cincinnati‚ Ohio‚ USA. 4. CIPD‚ 2010. Pay and reward: an overview. [on line] Available at: http://www.cipd.co.uk/subjects/pay/general/payrewrdovw.htm [Accessed 20 October 2010] 5.
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THE SPIRALITY OF THE SINGLE JERSEY FABRICS AND ITS EFFECT ON THE GARMENTS F. CEKEN Dokuz Eylul University Engineering Fac. Textile Eng. Department Bornova-Izmir/TURKEY 1. Introduction The single jersey knitted structures‚ used widely in knitted garments‚ cause some problems‚ because of their unbalanced structures. The most important problem of the single jersey structure is fabric spirality‚ which affects all the fabric and creates big problems at the clothing step. It affects the garment
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INTRODUCTION Shareholders and members of the company always own the number of remedies to against the wrong in process of managing company. It can be seen that in the different situations will be applied different remedies for each members and officers of the company. On the facts available‚ there are two issues to be discussed. The first issue is what have Don breached his directors’ duties under the act in good faith and best interest of the company as well as disclosure personal interest. The second
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