What is the legal position of a director of a company?
(1) Directors as agents.qA company, as an artificial person, acts through directors who are elected representatives of the shareholders. They are, in the eyes of the law, agents of the company for which they act (2) Directors as employees.(3) Directors as officers. The directors are treated as officers of the company. As such they are liable to certain penalties if the provisions of the companies act are not strictly complied with.
Directors as trustees. Directors are treated as trustees. Of the company's money and property ; and of the powers entrusted to them.
Managing Director means a director who by virtue of an agreement with the company or of a resolution passed by the company in general meeting or by its Board of Directors or by virtue of its memorandum or articles of association is entrusted with substantial powers of management which would not otherwise be exercisable by him. It includes a director occupying the position of managing director by whatever name called. Whole time director includes a…
Information provided by Legalpund = Can a Company appoint a Managing Director and a Manager at the same time? = No company can appoint or employ, at the same time, or, continue the appointment or, employment at the same time, of a Managing Director, as well as a Manager. But, there is no legal prohibition against having a Whole Time Director and Manager, simultaneously, or, Managing Director and whole-time Director, simultaneously. Again, there is no…
lee was the controlling shareholder having 2999 shares out of 3000 shares of company and was director of a company formed by him. he was also employed by the company. he was killed in the accidents and his wife claimed compensation from the company. but her claim was successful. it was held that lee and the company had separate legal personalities and compensation was payable to lee as an employee.
Since a Board of Directors always has multiple members is it ever okay to use Board of Director for example should it be Board of Director position or Board of Directors position?
According to recent government statistics the average salary for a management director is $180,000. However, the salary for a management director can range from $100,000 to over $300,000 depending on the company, location, and specifics of the position in which the individual holds in their business.
Under what section of the Corporations ACT 2001 does a director of a company have the power to inspect the books of the company for the purposes of a legal proceeding?
Section 198F(1) of the Corporations Act affords a current director the right to inspect a company's books (other than the companies financial records) at all reasonable times for the purposes of a legal proceeding to which that director is a party. Former directors also have similar inspection rights under section 198F(2). A former director's inspection right continues for seven (7) years after they cease to be a director.
The Chief Financial Officer (CFO) and the Chief Operating Officer (COO) plays different roles in an organization. The COO is the second ranking position after the CEO assisting the CEO in his daily and strategic plans. A COO is also seen as the Deputy CEO of a company similar to a Deputy Managing Director (DMD) where the CEO is the Managing Director. It is a senior Vice President (VP) position in the area of Operations…
There is no special term for that position. It would be up to the particular employer to assign a title to that position. That person may simply be referred to as a legal writer or a person from the legal department of a company or organization. They may be an attorney or their work must be reviewed by an attorney.
To become a company director, you do not need specific subjects, all you have to do is form the company or be appointed. To be a good company director, many subjects will be useful. They may relate to communication, management, administration, marketing, planning and forecasting, accounting, and may also be specific to the type of business the company does.
As far as I am aware a private limited company can purchase land. The private limited company has got its own legal entity and as such can enter into the purchasing of land under the name of the limited company. This will mean that the private limited company will own the land and no sinlge member, shareholder or director will have ownership and their names won't be on any legal documents relating to the ownership…