We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Corporations/company law (in relation to corporate governance, directors duties and shareholder remedies) - Essay Example

Comments (0)
In Australia, companies are governed by the general law of Australia and various provisions of both state and federal laws but the chief governing statute is the Corporation Act 2001. Under Corporation Act, directors of Australian companies are imposed with statutory duties…
Download full paper
Corporations/company law (in relation to corporate governance, directors duties and shareholder remedies)
Read TextPreview

Extract of sample
Corporations/company law (in relation to corporate governance, directors duties and shareholder remedies)

Download file to see previous pages... 1. Have Smith, Jones and the other directors of Retailer fully discharged their legal duties to Retailer? In your answer you should consider their duties under the Corporations Act and under relevant case law.
Under Section 191(1) of Australian Corporation Act of 2001, a director has the duty to inform other directors of his material special interest whenever there arise from conflict of interest. A director who has such material interest should give a notice of interest to other directors.
As per section 191 (1A), if a director has a substantial personal interest in a business transaction that pertains to the business events of the company, then he will be liable for strict liability under section 6.1 of the Criminal Code2.
At common law, a director has a duty to act in the best interest and good faith of the company and as fiduciaries, director’s have a duty of economic loyalty to the company. Directors must not use their authority for any private purpose or for private advantage. Directors are expected to function honestly in the utmost interest of the company.
Directors have an obligation to avoid potential and actual conflicts of interest and to have clear demarcation between their personal interests and their duty to the company and to avoid from enriching profit out of their position5.
In Magellan v Mount King Mining NL7, it was held by West Australian Supreme Court that the threshold for deciding whether an interest is material interest or not and when such interest is quite low, the character of interest “should have the ability to sway the vote of a specific director on whether to make a decision or not thereby keeping in mind that the conflict of interest must be of substantial and of real kind8
If he has declared his notice of interest at a board of directors meeting where such contract is being voted. The notice should contain the extent and ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Corporate Governance Law
CORPORATE GOVERNANCE LAW. Corporate governance is a system that has gained prominence in the management of organizations across the world and plays a critical role in facilitating organizations to be effective and efficient hence attainment of organizational goals and objectives.
12 Pages(3000 words)Assignment
Uk Company Law Directors Duties
Customarily, director’s duties in UK have been divided under the head self-regulatory and non-regulatory mechanisms. Under regulatory approach, directors are required to comply with their obligations and duties
10 Pages(2500 words)Essay
Corp Law Assignment. Directors Duties / Remedies / Removal of Board
The issue is whether Nifty will be successful and what remedies he may seek. Law: s180(1) of the Corporations Act 2001 (Cth) – Care and diligence – directors and other officers; ASIC v Rich – non-executive directors in breach of their duty of care, skill and diligence.
4 Pages(1000 words)Essay
Law - Directors Duties
Accordingly, it recommended a full codification of directors' duties replacing the corresponding equitable and common law rules. Therefore, the UK Companies Act 2006 replaced and codified the principles of common law and equitable duties of directors. The codification of directors’ duties was done to provide an authoritative position on what the duties of directors are in the company (Hannigan, 2009).
4 Pages(1000 words)Essay
Company Law
Company Law - 4 Steps Essay Table of Contents 1 Table of Contents 2 Question 1.1 3 Step 1: Area of Law/Legal Issue(s) 3 Step 2: The Relevant Law 3 Step 3: Apply the Law to the Problem 4 Conclusion 5 Question 1.2 6 Step1: Area of Law/Legal Issue(s) 6 Step 2: The Relevant Law 6 Step: 3 Apply the Law to the Problem 7 Conclusion 8 References 9 Bibliography 11 Question 1.1 Step 1: Area of Law/Legal Issue(s) The case reference of Leaping Lizard Coffee Emporium Pty Ltd deals with the breach of contract or agreement among directors under the Corporations Act 2001, which fundamentally applies to companies registered after 1st July 1998 and were no longer requisite implying on Articles of Association (
5 Pages(1250 words)Essay
Explain the duties and responsibilities of the Non-executive Directors (NEDs) in the Corporate Governance process: a) within
This entails the inclusion of Non-executive Directors or NEDs in the company board of Directors in the process of promoting good corporate governance. NED’s authority is derived from UK Corporate Governance Code that defines the legal framework of its inclusion in the boards of companies while Companies Act of 2006 which took effect in October of 2009 and was preceded by similar corporate governance initiative such as the Cadbury Report of 1992 which first raised the idea of instituting corporate governance in board rooms defining it as “the system by which companies are directed and controlled”.
4 Pages(1000 words)Essay
Analysis of a Company Act 2006: Sections 170-177
The United Kingdom became the first country to draft the modern corporation statutes through the simple procedures and centralized for the management. The United Kingdom company law allows for freedom of designing the internal rules of the company under conditions that the minimum investors’ rights be maintained.
12 Pages(3000 words)Essay
Company Law - corporate governance
Some changes are made in case law (company Law), to make the strategies of the companies and the aspirations of the stake holders to fulfilled. In this manner the case law should deal with the sincerity, diligence of the directors and the skills of the employees.
14 Pages(3500 words)Essay
Kazuo Ishiguro and Charles Dickens
Ishiguro’s main protagonist, Stevens, in The Remains Of the Day speaks in the first person narrative because he wants to present directly the thoughts and stream of consciousness effectively to the readers.
8 Pages(2000 words)Book Report/Review
Non-Executive Directors in Corporate Governance
Corporate governance has thus become a national as well as an international issue (Cadbury 2002, Kiel and Nicholson 2003b). This has ensued in modifying awareness to be given to matters like the efficiency of reporting disclosure, internal controls, audit committees, functions of the board and the freedom of the directors and auditors.
11 Pages(2750 words)Essay
Let us find you another Essay on topic Corporations/company law (in relation to corporate governance, directors duties and shareholder remedies) for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us