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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.
What else can I help you with?
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.
What do you do if summons cite director instead of company?
If a summons cites a director instead of the company, the director should first consult with legal counsel to understand the implications and appropriate actions. It may be necessary to file a motion to dismiss or modify the summons, arguing that the company, rather than the individual, is the proper defendant in the case. Additionally, the director should ensure that the company is also informed and involved in the legal proceedings, as the company's interests may be closely tied to the case.
Can a director be a consultant of the same company?
Yes, a director can also serve as a consultant for the same company, provided that there is no conflict of interest and it is permitted by the company's policies and governance structure. This dual role can leverage the director's expertise and insights for the company's benefit. However, transparency and proper disclosure are essential to ensure compliance with legal and ethical standards.
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.
Should the word director be capitalized?
The word "director" should be capitalized when it is used as a title before someone's name (e.g., Director Smith). Otherwise, when used in a general sense to refer to a position or role, it does not need to be capitalized (e.g., the director of the company).
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.
