Here is the synopsis of our sample research paper on Directors Duties. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 9 page paper answers three questions; How Section 35 of the Companies Act, 1985 has altered the Common Law interpretation of the Objects Clause in the Memorandum of Association of a Company, the general duties of the Directors of a company and under what circumstances a company director can be disqualified. The paper is written with reference to UK law. The bibliography cites 5 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEdutydirec.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
the main aim is not profit. These may include companies such as football clubs or other organisations where the stakeholder may want a share. However, for most commercial organisations it
is the shareholders that are the primary stakeholders. For many shareholders there will be the desire that the company takes advantage of all commercial opportunities that they are faced
with to maximise the returns. Under section 14 of the Companies Act 1985 the memorandum of association "shall, when registered, bind the company and its members to the same extent
as if they respectively had been signed and sealed by each member, and contained covenants on the part of each member to observe all " (Lexis, 2005). This means that
there are a wide number of limitations placed on a company. However we can look at section 35, and how this may be seen as preventing some of the limitations
impacting on third parties. In general terms the memorandum can only be altered by the provisions in the Companies Act s2 (7). The article may be altered by with
a special resolution, as stated under s9 (Ridley, 2002). Furthermore, the case of Allen v Gold Reefs of West Africa (1900) 1 Ch 656 it was established that a company
could not prevent the ability to make alterations (Davies, 2001). However, this is not as bad as it may appear to be, as where any alteration will effect class rights
the change is more complex, with section 125 and 127, the sections which protect minority shareholders (Ridley, 2002). Here there would need the written consent of three quarters of shareholders
calculated by the nominal value of the shareholding alternatively it may be changed with the passing of an extraordinary resolution at separate general meeting that is made up of the
...