Books > Old Books > Poetry Northwest (1959)


Page 131

CHAPTER 11
DIRECTORS

sufficient declaration of interest. A general notice is of no effect unless it is given at a meeting of the directors or reasonable steps are taken to secure that it is brought up and read at the next meeting of the directors after it is given. Compliance with the duty is enforced by a fine of £100 (s. 199).
Except in private companies, it is usual to provide in the articles that a director who is interested in a contract with the company shall vacate his office unless he makes the declaration required by s. 199, that he shall not vote on any such contract, and that if he does vote his vote shall not be counted. The effect of this is to allow the director to contract with the company, on disclosing his interest, and to keep any profit he may make.(52)
Table A, Art. 84, provides:
(1) [This requires the director to declare his interest under s 199.]
(2) " A director shall not vote in respect of any contract or arrangement in which he is interested; and if he shall do so his vote shall not be counted nor shall he be counted in the quorum present at the meeting, but neither of these prohibitions shall apply to
(a) any arrangement for giving any director any security or indemnity in respect of money lent by him to or obligation undertaken by him for the benefit of the company; or
(b) to any arrangement for the giving by the company of any security to a third party in respect of a debt or obligation of the company for which the director himself has assumed responsibility in whole or in part under a guarantee or indemnity or by the deposit of security; or
(c) any contract by a director to subscribe for or underwrite shares or debentures of the company; or
(d) any contract or arrangement with any other company in which he is interested only as an officer of the company or as a holder of shares or other securities;
and these prohibitions may at any time be suspended or relaxed to any extent and
either generally or in respect of any particular contract, arrangement or transaction
by the company in general meeting."
(3) [This allows the director to hold any other office of profit under the company other than auditor) with the consent of the directors and to contract with the company.]
(4) [This provides that a director may be counted in the quorum present at a meeting at which he is appointed to hold any other office of profit under the company.]
(5) " Any director may act by himself or his firm in a professional capacity for the company and he or his firm shall be entitled to remuneration for professional services as if he were not a director; provided that nothing herein contained shall authorise a director or his firm to act as auditor to the company."

Secret Benefits of Directors.-Without the consent of the company, directors must not make any profit out of their position in the company, beyond their agreed remuneration. Any profit so made must be accounted for to the company.

Boston Deep Sea Fishing Co. v. Ansell (1888), 39 Ch. D. 339. X. was a director of the B. company, and, on the company's behalf, contracted for the building of fishing

52 Costa Rica Ry. v. Forwood, [1901] 1 Ch. 746.

travel books:
where is HTML where is HEAD where is TITLE sufficient declaration of interest. A general notice is of no effect unless it is given at a meeting of what is directors or reasonable steps are taken to secure that it is brought up and read at what is next meeting of what is directors after it is given. Compliance with what is duty is enforced by a fine of £100 (s. 199). Except in private companies, it is usual to provide in what is articles that a director who is interested in a contract with what is company shall vacate his office unless he makes what is declaration required by s. 199, that he shall not vote on any such contract, and that if he does vote his vote shall not be counted. what is effect of this is to allow what is director to contract with what is company, on disclosing his interest, and to keep any profit he may make.(52) Table A, Art. 84, provides: (1) [This requires what is director to declare his interest under s 199.] (2) " A director shall not vote in respect of any contract or arrangement in which he is interested; and if he shall do so his vote shall not be counted nor shall he be counted in what is quorum present at what is meeting, but neither of these prohibitions shall apply to (a) any arrangement for giving any director any security or indemnity in respect of money lent by him to or obligation undertaken by him for what is benefit of what is company; or (b) to any arrangement for what is giving by what is company of any security to a third party in respect of a debt or obligation of what is company for which what is director himself has assumed responsibility in whole or in part under a guarantee or indemnity or by what is deposit of security; or (c) any contract by a director to subscribe for or underwrite shares or debentures of what is company; or (d) any contract or arrangement with any other company in which he is interested only as an officer of what is company or as a holder of shares or other securities; and these prohibitions may at any time be suspended or relaxed to any extent and either generally or in respect of any particular contract, arrangement or transaction by what is company in general meeting." (3) [This allows what is director to hold any other office of profit under what is company other than auditor) with what is consent of what is directors and to contract with what is company.] (4) [This provides that a director may be counted in what is quorum present at a meeting at which he is appointed to hold any other office of profit under what is company.] (5) " Any director may act by himself or his firm in a professional capacity for what is company and he or his firm shall be entitled to remuneration for professional services as if he were not a director; provided that nothing herein contained shall authorise a director or his firm to act as auditor to what is company." Secret Benefits of Directors.-Without what is consent of what is company, directors must not make any profit out of their position in what is company, beyond their agreed remuneration. Any profit so made must be accounted for to what is company. Boston Deep Sea Fishing Co. v. Ansell (1888), 39 Ch. D. 339. X. was a director of what is B. company, and, on what is company's behalf, contracted for what is building of fishing 52 Costa Rica Ry. v. Forwood, [1901] 1 Ch. 746. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 131 where is strong CHAPTER 11 DIRECTORS where is p align="justify" sufficient declaration of interest. A general notice is of no effect unless it is given at a meeting of what is directors or reasonable steps are taken to secure that it is brought up and read at what is next meeting of what is directors after it is given. Compliance with what is duty is enforced by a fine of £100 (s. 199). Except in private companies, it is usual to provide in what is articles that a director who is interested in a contract with what is company shall vacate his office unless he makes what is declaration required by s. 199, that he shall not vote on any such contract, and that if he does vote his vote shall not be counted. what is effect of this is to allow what is director to contract with what is company, on disclosing his interest, and to keep any profit he may make.(52) Table A, Art. 84, provides: (1) [This requires what is director to declare his interest under s 199.] (2) " A director shall not vote in respect of any contract or arrangement in which he is interested; and if he shall do so his vote shall not be counted nor shall he be counted in what is quorum present at what is meeting, but neither of these prohibitions shall apply to (a) any arrangement for giving any director any security or indemnity in respect of money lent by him to or obligation undertaken by him for what is benefit of what is company; or (b) to any arrangement for what is giving by what is company of any security to a third party in respect of a debt or obligation of what is company for which what is director himself has assumed responsibility in whole or in part under a guarantee or indemnity or by what is deposit of security; or (c) any contract by a director to subscribe for or underwrite shares or debentures of what is company; or (d) any contract or arrangement with any other company in which he is interested only as an officer of what is company or as a holder of shares or other securities; and these prohibitions may at any time be suspended or relaxed to any extent and either generally or in respect of any particular contract, arrangement or transaction by what is company in general meeting." (3) [This allows what is director to hold any other office of profit under what is company other than auditor) with what is consent of what is directors and to contract with what is company.] (4) [This provides that a director may be counted in what is quorum present at a meeting at which he is appointed to hold any other office of profit under what is company.] (5) " Any director may act by himself or his firm in a professional capacity for what is company and he or his firm shall be entitled to remuneration for professional services as if he were not a director; provided that nothing herein contained shall authorise a director or his firm to act as auditor to what is company." Secret Benefits of Directors.-Without what is consent of what is company, directors must not make any profit out of their position in the company, beyond their agreed remuneration. Any profit so made must be accounted for to what is company. Boston Deep Sea Fishing Co. v. Ansell (1888), 39 Ch. D. 339. X. was a director of what is B. company, and, on what is company's behalf, contracted for what is building of fishing 52 Costa Rica Ry. v. Forwood, [1901] 1 Ch. 746. where is Server.Execute("_SiteMap.asp") %

Book Pages: _SiteMap , default , 001 , 002 , 003 , 004 , 005 , 006 , 007 , 008 , 009 , 010 , 011 , 012 , 013 , 014 , 015 , 016 , 017 , 018 , 019 , 020 , 021 , 022 , 023 , 024 , 025 , 026 , 027 , 028 , 029 , 030 , 031 , 032 , 033 , 034 , 035 , 036 , 037 , 038 , 039 , 040 , 041 , 042 , 043 , 044 , 045 , 046 , 047 , 048 , 049 , 050 , 051 , 052 , 053 , 054 , 055 , 056 , 057 , 058 , 059 , 060 , 061 , 062 , 063 , 064 , 065 , 066 , 067 , 068 , 069 , 070 , 071 , 072 , 073 , 074 , 075 , 076 , 077 , 078 , 079 , 080 , 081 , 082 , 083 , 084 , 085 , 086 , 087 , 088 , 089 , 090 , 091 , 092 , 093 , 094 , 095 , 096 , 097 , 098 , 099 , 100 , 101 , 102 , 103 , 104 , 105 , 106 , 107 , 108 , 109 , 110 , 111 , 112 , 113 , 114 , 115 , 116 , 117 , 118 , 119 , 120 , 121 , 122 , 123 , 124 , 125 , 126 , 127 , 128 , 129 , 130 , 131 , 132 , 133 , 134 , 135 , 136 , 137 , 138 , 139 , 140 , 142 , 143 , 144 , 145 , 146 , 147 , 148 , 149 , 150 , 151 , 152 , 153 , 154 , 155 , 156 , 157 , 158 , 159 , 160 , 161 , 162 , 164 , 165 , 166 , 167 , 168 , 169 , 170 , 171 , 172 , 178 , 179 , 180 , 181 , 182 , 183 , 184 , 185 , 186 , 187 , 188 , 189 , 190 , 191 , 192 , 193 , 194 , 195 , 196 , 197 , 198 , 199 , 200 , 201 , 202 , 203 , 204 , 205 , 206 , 207 , 209 , 210 , 211 , 212 , 214 , 215 , 217 , 218 , 219 , 220 , 221 , 222 , 223 , 224 , 225 , 226 , 227 , 228 , 229 , 230 , 231 , 232 , 233 , 234 , 235 , 236 , 237 , 238 , 239 , 240 , 241 , 242 , 243 , 244 , 245 , 246 , 247 , 248 , 249 , 250 , 251 , 252 , 253 , 254 , 255 , 256 , 257 , 258 , 259 , 260 , 261 , 262 , 263 , 264 , 265 , 266 , 267 , 268 , 269 , 270 , 271 , 272 , 273 , 274 , 275 , 276 , 277 , 278 , 279 , 280 , 281 , 282 , 283 , 284 , 285 , 287 , 288 , 289 , 290 , 291 , 292 , 293 , 294 , 295 , 296 , 297 , 298 , 299 , 300 , 301 , 302 , 303 , 304 , 305 , 306 , 307 , 308 , 309 , 310 , 311 , 312 , 313 , 314 , 315 , 316 , 317 , 318 , 319 , 320 , 321 , 322 , 323 , 324 , 325 , 326 , 327 , 328 , 329 , 330 , 331 , 332 , 333 , 334 ,