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(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.
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Can a company director sue his own company?
yes, as the company is a legal entity, and it can be sued by the director if the shareholders of a company use the company as the alter ego of the shareholders.
Difference between Managing director and Whole Time Director?
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 director in the whole time employment of the company. A person who does not devote substantially the whole of his time to the company is not a whole time director. A whole time director is virtually a managing director though not so designated. A director in charge is also in the same position as a managing director. It has been held that a Managing director is a part of the company's Board of directors and not a servant of the company.
What position does Kimmora Lee Simmons hold in the Baby Phat Company?
CREATIVE DIRECTOR
What is the legal age in south Africa to act as director of a company?
You have to be 18 years old.
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.
Can a Salaried person become the director in a One Person Company?
Yes, a salaried person become the director in a One Person Company , there are no legal bondages in this but you have to go through with your employment agreement if it contains any restrictions on doing so.
When was Director's Company created?
Director's Company was created in 1982.
Should a OSHA safety director of a company be bonded?
There are FAR TOO MANY possible variables that are unknown. That is a question best answered by the company's legal adviser or insuror.
What is the position of a company secretary?
The position name is the same as the company secretary. Actually, a company secretary deals with all the legal and managerial tasks related to a business like arranging meetings, company registration, legal activities. Sometimes a company secretary also plays a major role in advising the directors if required. Hope this will help you to understand the duties of a CS.
Can a company appoint managing director and manager simultaneously?
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 prohibition on a company having more than one Managing Director. This section applies to all companies, public and private. As per provisions of this section a company cannot apply both managing director and manager at the same time. The term " managing director" and "manager" has been defined in section 2(26) and 2(24) respectively. "managing director is a director who is entrusted with "substantial" powers of management which would not otherwise be exercisable by him. From the definition of managing director it appears that the company may entrust "substantial" power of management to one or more directors and therefore a company may have more than one managing director.Further the expression MANAGING DIRECTOR shall also include a director occupying the position of managing director, by whatever name called.For instance, President, CEO , chief operating officer, etc. in the case of MNCs shall be considered as the MANAGING DIRECTOR for the purpose of COMPANIES ACT, although they are not designated as such.
Position?
Managing Director
What is an example of a separate legal entity?
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.
