Books > Old Books > Poetry Northwest (1959)


Page 277

CHAPTER 26
STATUTORY COMPANIES.

The directors cannot make any agreement depriving the shareholders of the power of appointing directors.(43)
Qualification of Directors.-Each director must be a shareholder. In addition, the special Act may require the holding of a prescribed number of qualification shares. No person can be made a director if
1. He holds an office or place of trust or profit under the company;
or
2. He is interested in any contract with the company.
The holding of shares in a company which contracts with the company of which he is a director does not disqualify the director if he does not vote on any question relating to the contract. A director vacates his office if (1) he ceases to hold his qualification shares, (2) he holds a place of trust or profit under the company, or (3) he is interested in any contract with the company.
Casual vacancies in the office of director are filled by the remaining directors. (44)
A contract is not invalid merely because one of the directors is interested in it.
" The consequences of a director being interested in a contract are as follows:First, there is the statutory consequence that he ceases to hold office, and, secondly, there is what I may call the general legal consequence that he cannot enforce, as against the company, any contract which he has entered into with that personal interest. But to say that a contract between two companies is to be treated as invalid and beyond the power of one of the companies because one of the directors is interested in it, is a proposition which I have never heard advanced before, and which appears to me to be entirely unsound."(45)

Remuneration.-Subject to any provisions in the special Act, directors are only entitled to remuneration if it is voted to them by the company in general meeting. They cannot authorise their own remuneration. (46)
Powers and Liabilities.-Directors have the management and superintendence of the affairs of the company, and can exercise all the powers of the company except those directed to be transacted by a general meeting. All their powers are to be exercised subject to the control of a general meeting convened for that purpose. (47)

43 James v. Eve (1873), L. R. 6 H. L. 335, 342.
44 Companies Clauses Act, 1845, ss. 85-89.
45 Per Lindley, M.R., in Kaye v. Croydon Tramways, [1898] Ch. at p. 368.
46 Companies Clauses Act, 1845, ss. 90, 91.
47 Ibid., s. 90.

travel books:
where is HTML where is HEAD where is TITLE The directors cannot make any agreement depriving what is shareholders of what is power of appointing directors.(43) Qualification of Directors.-Each director must be a shareholder. In addition, what is special Act may require what is holding of a prescribed number of qualification shares. No person can be made a director if 1. He holds an office or place of trust or profit under what is company; or 2. He is interested in any contract with what is company. what is holding of shares in a company which contracts with what is company of which he is a director does not disqualify what is director if he does not vote on any question relating to what is contract. A director vacates his office if (1) he ceases to hold his qualification shares, (2) he holds a place of trust or profit under what is company, or (3) he is interested in any contract with what is company. Casual vacancies in what is office of director are filled by what is remaining directors. (44) A contract is not invalid merely because one of what is directors is interested in it. " what is consequences of a director being interested in a contract are as follows:First, there is what is statutory consequence that he ceases to hold office, and, secondly, there is what I may call what is general legal consequence that he cannot enforce, as against what is company, any contract which he has entered into with that personal interest. But to say that a contract between two companies is to be treated as invalid and beyond what is power of one of what is companies because one of what is directors is interested in it, is a proposition which I have never heard advanced before, and which appears to me to be entirely unsound."(45) Remuneration.-Subject to any provisions in what is special Act, directors are only entitled to remuneration if it is voted to them by what is company in general meeting. They cannot authorise their own remuneration. (46) Powers and Liabilities.-Directors have what is management and superintendence of what is affairs of what is company, and can exercise all what is powers of what is company except those directed to be transacted by a general meeting. All their powers are to be exercised subject to what is control of a general meeting convened for that purpose. (47) 43 James v. Eve (1873), L. R. 6 H. L. 335, 342. 44 Companies Clauses Act, 1845, ss. 85-89. 45 Per Lindley, M.R., in Kaye v. Croydon Tramways, [1898] Ch. at p. 368. 46 Companies Clauses Act, 1845, ss. 90, 91. 47 Ibid., s. 90. 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 277 where is strong CHAPTER 26 STATUTORY COMPANIES. where is p align="justify" The directors cannot make any agreement depriving what is shareholders of what is power of appointing directors.(43) Qualification of Directors.-Each director must be a shareholder. In addition, what is special Act may require what is holding of a prescribed number of qualification shares. No person can be made a director if 1. He holds an office or place of trust or profit under what is company; or 2. He is interested in any contract with what is company. what is holding of shares in a company which contracts with what is company of which he is a director does not disqualify what is director if he does not vote on any question relating to what is contract. A director vacates his office if (1) he ceases to hold his qualification shares, (2) he holds a place of trust or profit under what is company, or (3) he is interested in any contract with what is company. Casual vacancies in what is office of director are filled by what is remaining directors. (44) A contract is not invalid merely because one of what is directors is interested in it. " what is consequences of a director being interested in a contract are as follows:First, there is what is statutory consequence that he ceases to hold office, and, secondly, there is what I may call what is general legal consequence that he cannot enforce, as against what is company, any contract which he has entered into with that personal interest. But to say that a contract between two companies is to be treated as invalid and beyond what is power of one of what is companies because one of what is directors is interested in it, is a proposition which I have never heard advanced before, and which appears to me to be entirely unsound."(45) Remuneration.-Subject to any provisions in what is special Act, directors are only entitled to remuneration if it is voted to them by the company in general meeting. They cannot authorise their own remuneration. (46) Powers and Liabilities.-Directors have what is management and superintendence of what is affairs of what is company, and can exercise all what is powers of what is company except those directed to be transacted by a general meeting. All their powers are to be exercised subject to what is control of a general meeting convened for that purpose. (47) 43 James v. Eve (1873), L. R. 6 H. L. 335, 342. 44 Companies Clauses Act, 1845, ss. 85-89. 45 Per Lindley, M.R., in Kaye v. Croydon Tramways, [1898] Ch. at p. 368. 46 Companies Clauses Act, 1845, ss. 90, 91. 47 Ibid., s. 90. 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 ,