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Does a victim of a ponzi prevent you from serving on the board of directors for a public company?
Wiki User
∙ 13y ago
No, being a victim of a Ponzi scheme does not stop you from serving on the Board of Directors.
Wiki User
∙ 13y ago
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Who controls a public limited company?
The Directors control a public limited company. Directors are appointed by Shareholders in AGM.
What is the liabilities of director in company law?
Liabilities of directors in public companies when directors are 2 ?
Can you sit on the board of directors of a public company if you have a felony conviction?
No
How many maximum no of directors for one public company?
50
What is the difference between a limited company and public limited company?
PLC's share holdings are usually sold to the public, ie the public part own them. Limited companies, the shares stay in the company with the directors holding them, they cannot sell them to the public.
Who runs plc?
The board of directors run the PLC ( public limited company) however the people who own the business are the shareholders. The shareholders vote on the board of directors.
What is the biggest fear of board of directors?
Large company scandal that becomes public, a massive drop in stock,
Who can sack a chairman of a company?
In case of private limited company, Board of Directors can sack a chairman of company. In case of public company , the Minister of that portfolio can sach a chairman. by Siraj Bangkok
What does Co means in business?
company Company means enterprise whether private or public formed to do business on items prescribed in its Certificate of Incorporation,with the sole aim of earning profit. The directors of a private limited company accountable for the performance of the company, where in public limited company, they are answerable to its share holders,since public interest is involved.
Who is the owner of public corporations?
In public corporations, ownership is dispersed among shareholders who own shares of the company's stock. Shareholders elect a board of directors to oversee the corporation on their behalf. Ultimately, the shareholders have ownership rights, but they delegate decision-making to the board of directors.
What is the difference between private limited company and a public limited company?
The difference between public and private company can be drawn clearly on the following grounds: A public company refers to a company that is listed on a recognized stock exchange and traded publicly. A Private Ltd. company is one that is not listed on a stock exchange and is held privately by the members. There must be at least seven members to start a public company. As against this, the private company can be started with minimum two members. The is no ceiling on the maximum number of members in a public company. Conversely, a private company can have a maximum of 200 members, subject to certain conditions. A public company should have at least three directors whereas the Private Ltd. company can have a minimum of 2 directors. It is compulsory to call a statutory general meeting of members, in the case of a public company, whereas there is no such compulsion in the case of a private company. In a Public Ltd. Company, there must be at least five members, personally present at the Annual General Meeting (AGM) for constituting the requisite quorum. On the other hand, in the case of Private Ltd. Company, that number is 2. The issue of prospectus/statement instead of the prospectus is mandatory in case of a public company, but this is not the case with the private company. To start a business, the public company needs a certificate of commencement of business after it is incorporated. In contrast, a private company can start its business just after receiving a certificate of incorporation. The transferability of shares of a Pvt. Ltd. company is completely restricted. On the contrary, the shareholders of a public company can freely transfer their shares. A public company can invite the general public for subscribing shares of the company. As opposed, a private company has no right to invite public for subscription.
Can a company increase its maximum number of directors in its board?
A company, at a general meeting may, by ordinary resolution, increase or reduce the number of its directors within the limits fixed in that behalf by its articles.Increase in number of directors to require Government sanctionIn the case of a public company, or a private company which is a subsidiary of a public company, any increase in the number of its directors, beyond the maximum number of directors permitted by the Articles of the Company as first registered, shall not have any effect unless approved by the Central Government and shall become void if, and in so far as, it is disapproved by that Government.However, where such permissible maximum is 12 or less, no approval of the Central Government is required provided the increase does not increase the number of directors beyond 12.Additional directorsThe Board of directors may appoint additional directors if such power is conferred on it by the articles of the company. Such additional directors shall hold office only up to the date of the next annual general meeting of the company.Provided further that the number of the directors and additional directors together shall not exceed the maximum strength fixed for the Board by the articles.Filling of casual vacancies among directorsIn the case of a public company or a private company which is a subsidiary of a public company, if the office of any director appointed by the company in general meeting is vacated before his term of office will expire in the normal course, the resulting casual vacancy may, in default of and subject to any regulations in the articles of the company, be filled by the Board of directors at a meeting of the Board.Any person so appointed shall hold office only up to the date up to which the director in whose place he is appointed would have held office if it had not been vacated as aforesaid.Appointment and term of office of alternate directorThe Board of directors of a company may, if so authorised by its articles or by a resolution passed by the company in general meeting, appoint an alternate director to act for a director during his absence for a period of not less than three months from the State in which meetings of the Board are ordinarily held.An alternate director so appointed shall not hold office for a period longer than the period for which the original director hold office and vacate office if and when the original director returns to the State in which meetings of the Board are ordinarily held.Appointment of directors to be voted on individuallyAt a general meeting of public company or of a private company which is a subsidiary of a public company, each director has to be appointed separately by a separate resolution. However, appointment of more than one director through the same resolution will be valid if it has been passed unanimously. A resolution moved in contravention of the aforesaid provision shall be void, whether or not objection was taken at the time to its being so moved:Consent of candidate for directorship to be filled with RegistrarA person shall not act as director of a company unless he has, by himself or by his agent authorised in writing, signed and filed with the Registrar, a consent in writing to act as such director within 30 days of his appointment. This provision shall not apply to a private company unless it is a subsidiary of a public company.Option to company to adopt proportional representation for the appointment of directorsIf the articles of a company provide for the appointment of not less than two-thirds of the total number of the directors of a public company or of a private company which is a subsidiary of a public company, according to the principle of proportional, representation, whether by the single transferable vote or by a system of cumulative voting or otherwise. Such appointments may be made once in every three years and interim casual vacancies being filled by the Board of Directors as Casual Vacancies. This may enable minority shareholders to have a proportional representation on the Board of Directors of the company.
