Directors’ Fiduciary Duties: A New Analytical Framework ___________________________________ Ernest Lim* INTRODUCTION Prior to the enactment of the Companies Act 2006‚ the equitable principles on directors’ fiduciary duties of loyalty comprising the no-conflict and no-profit rules have been characterised in the form of either a strict or flexible approach.1 Simply put‚ under the strict approach2‚ absent the company’s informed consent‚ liability is automatically triggered if a director enters into
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Directors Duties 1 Types of directors: Ordinary‚ de facto‚ shadow directors and non executive directors. Table A section 80 is the cornerstone of corporate governance. Gives the directors powers to act as they see fit for the benefit of the company. Directors have a FIDUCIARY relationship with the company – trust and confidence. The distinguishing obligation of a fiduciary is the OBLIGATION OF LOYALTY. Shadow directors – not appointed by the board – have a decisive say in managing from a distance
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This plant will be supervised by a U.S technical team and a U.S expatriate will be assigned to direct the production. This director will report directly to OEC’s U.S. headquarters on all production and quality-control matters but will report to the managing director in Peru on all other matters‚ such as accounting‚ finance‚ and labor relations. In 1997‚ the managing director of OEC (who is U.S national) of the Office Equipment Company (OEC) in Lima‚ Peru announced suddenly that he would leave the
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mean that the director of the film is the creative intelligence who shapes the entire film in a manner parallel to how we think of literary works being authored. In his essay‚ ‘Notes on The Auteur Theory in 1962‚’ Andrew Sarris‚ one of the key proponents of Auteur theory corroborates the above position as he posits that one of the premises of the Auteur theory is the distinguishable personality of the director as a criterion of value. He argues: Over a group of films‚ a director must exhibit
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Nature of Board Level decisions and the contribution of the finance director The performance of any organization‚ may it be for profit or not for profit‚ heavily depends on the decisions that are made by the management of the organization. It is worth noting that decisions made in the organization differ greatly‚ depending on the position of those involved in making those decisions. The board is one body that plays a crucial role in determining the future of an organization‚ based on the nature
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By: Thomas Kallergis Film Critique: Analyzing the Star or Director Through Their Films Spike Lee - Modern Star Director - She’s Gotta Have it‚ Crooklyn‚ Inside Man Spike Lee‚ born Shelton Jackson Lee‚ is a modern Black director who was born in Atlanta‚ Georgia but grew up in Brooklyn‚ New York. It can be said that Mr. Lee is not one to shy away from controversy‚ be it in his films or public statements. The production company that Mr. Lee founded is called “40 Acres and a Mule” referring to
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PressReleasePing Xooker Announces Election of Jonathan Emery to its Board of Directors Xooker‚ LLC‚ a mobile-first‚ consumer-to-merchant engagement platform that rewards users for having fun with the brands they love‚ announces the election of Jonathan Emery to its Board of Directors. Lexington‚ KY‚ September 14‚ 2015 /PressReleasePing/ - Mr. Emery currently serves as the Chair of the Firm’s Corporate and M&A practice at Bressler‚ Amery‚ & Ross‚ P.C.. He is an expert on all legal and business aspects
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advantages and disadvantages facing a board of directors composed of insiders? (b) What are the possible advantages and disadvantages facing a board of directors composed of outsiders? The board of directors plays a vital part in the domination of any company whether it is a family business or otherwise. For every company or organization the board of directors is different in terms of its composition‚ roles and responsibilities of the directors and its structure. The composition is normally determined
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There are few types of directors a company may have. Managing director or chief executive officer is appointed in many companies. He is put in charge of managing the company’s daily business. A managing director may be conferred with any of the powers that the directors can exercise. He also performs a vital role in large companies because of the scale of the company’s business it is usually impractical for the board to actively carry out daily management and so it delegates its management function
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Discuss the following proposition in the context of the professional sporting clubs in this case (you may choose to focus upon only the Essendon Football Club): ‘Principal-Agent problems are caused by insufficient oversight by company directors.’ Corporate Governance is a complex field that started to develop very quickly this last decade. The collapse of international firms‚ the financial crisis‚ the international scandals‚ the pressure from the governments and non-profit organizations… are all
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