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Assignment on Company Law- Doc

   

Added on  2020-05-03

8 Pages1724 Words86 Views
Running head: AssignmentCompany Law

Assignment 1ContentsQuestion 1.............................................................................................................................................2Question 2.............................................................................................................................................3Bibliography..........................................................................................................................................7Books.................................................................................................................................................7Cases.................................................................................................................................................7Legislation.........................................................................................................................................7

Assignment 2Question 1Has Mr Bond breached his directors’ and/or fiduciary duties? As per facts of the problem, Mr Bond is the company’s chief executive officer of Vegas Ltd. The problem follows with IRAC format. Issue: Whether Mr Bond has committed breach of his directors duties or not?Rule: TheCorporations Act2001 specifies a general rule that any company either of public or private entity is to be run, regulated and controlled by its directors of a company1. Thus all directors of a company hold certain elementary obligations and responsibilities to handle the business of a company. The following four common duties or liabilities of directors are2Section 180: Duty to Care and diligence– a director is liable to perform his duties with the mark of care and diligence. Such rule imposes a charge over director that such director perform his role alike any common person might be ordinarily act in anycircumstances. Section 181: Duty to maintain Good faith–a director is charge by a duty to act in good faith in the paramount interests of the company. The section mutually deals witha duty of faithfulness and belief; it is also termed as a “fiduciary duty’ in law.Section 182: Duty to preclude any inappropriate use of position– director always liable to inhibit any motion which may influence his position or provide any gain an advantage for himself or for others for the purpose of impairment in the interest of thecompany. Section 183: Duty to curb any inadequate use of information– director charged to curb any improper use of the information acquire in the course of director duties might provide gain of an advantage for himself or for others in order to harm or impaired company’s interest. 1Corporation Act, 2001 (Cth) s 198A (1)2 J. Dyson, and H. Gibbs, Halsbury's Laws of Australia (Halsbury's Laws of Australia,2000)

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