Legal revision on chapter 15,16 week8

Legal revision on chapter 15,16 week8 - Revision for week 8...

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Revision for week 8 Chapter 15 Division of corporate power S198 A At common law, members cannot override/interfere with board decisions Howard Smith Ltd v Ampol Ltd “Directors, within their management powers, may take decisions against the wishes of the majority of shareholders, and. .. the majority… Cannot control them in the exercise of these powers while they remain in office.” Non-executive director, who is a member of the board, but not an employee, nor an agent of the company. A non-executive director does not take part in the day-to-day management of the business. Company secretary: is the chief administrative officer in the company and is usually responsible for much of the company’s legal compliance and obligations. Director Includes Official appointed Shadow De facto Officer Includes Director or secretary Person who participates in making decisions affecting substantial part of business Person who can significantly affect financial standing Person who the director usually obey
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Legal revision on chapter 15,16 week8 - Revision for week 8...

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