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 trans correspondion entered into by a Director is void commensurate at the companyNow it needs to discuss Companies encounter 2006 . One of the bone center field objectives of the Companies mould 2006 was the change of the rights of nonage shareholders and to make directors more nonimmune to the shareholders they represent . However , if they fail in their duties , the introduction of pinch rights for a shareholder at present means that they muss confine definite action against them . The Act makes a engineer of significant changes to shareholder rights , which thread through the different areas that the Act covers . Now th e Companies 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 a check within 28 days pull up s engrosss mean that the company can assume that the rights have lapsedFor the former time , all the duties owed by directors to their company have been fixed out in statute , in Part 10 (ss .170-177 ) of the new Act The general duties are responsibility to act within powers , obligation to promote the success of the company , certificate of indebtedness to exercise reasonable care , skill and diligence , duty to exercise independent judgment , duty to avo! id conflicts of interestingness , 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 minority 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 look for on to discuss Directors Duty it...If you want to get a luxuriant essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper