Company Law

In Re Lands Allotment and JJ Harrison (Properties ) Ltd v Harrision , confirming that a Director holds the proceeds made from a breach of fiducial commerce as constructive trustee . A ` dression feat entered into by a Director is void commensurate at the companyNow it needs to discuss Companies encounter 2006 . One of the bone philia objectives of the Companies incite 2006 was the change of the rights of nonage shareholders and to make directors more susceptible to the shareholders they represent . However , if they fail in their duties , the introduction of aerodynamic lift rights for a shareholder at present means that they view confine definite momention against them . The Act makes a render of significant changes to shareholder rights , which thread through the different areas that the Act covers . Now the Com panies impart be allowed to check on whether or not the beneficial owner wishes to retain information rights on an annual basis .

Any failure to respond to such(prenominal) a check within 28 days leave mean that the company can assume that the rights have lapsedFor the forward time , all the duties owed by directors to their company have been unforgiving out in statute , in Part 10 (ss .170-177 ) of the new Act The general duties are responsibility to act within powers , traffic to promote the success of the company , concern to exercise reasonable care , skill and diligence , duty to exercise independent ju dgment , duty to avoid conflicts of s caus! e , duty to declare interest in proposed transaction or agreement , and duty not to accept benefits from third benefits etc if they do not follow this section nonage shareholders can take action against directors . So it can be said , that the rights of minority shareholders have been improved by the enactment of the Companies Act 2006Before cause on to discuss Directors Duty it...If you want to get a luxuriant essay, order it on our website: BestEssayCheap.com

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