Some factors to consider when becoming a director
By Seth Darrell
A company’s business activities must ultimately be conducted by individuals — company directors — notwithstanding that a company has a distinct legal personality.
Directors may, subject to the company’s by-laws, exercise all the powers of the company except those powers that are required by the Companies Act 1981, as amended, or the by-laws to be exercised by the members (shareholders) of the company.
Typically, by-laws confer wide powers of management to the directors, who are, in effect, agents for the company in relation to any transaction into which they enter on behalf of the company, and trustees for the company as it relates to the company’s funds and property…
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