Discipline

Answers Analysing this case there was a conflict of interest ,the gifted being that Mrs Lamptey being a member and film conductor of sm wholly(prenominal) Ventures Ltd was also a sh beholder of International shoot the breeze Ltd.which was in breach of her fiduciary business as a director. This is because a director is to act bonafide of the comp either as a whole, and his duty is to use his powers unless for the purpose for which they were conferred director as an agent of the troupe must make full disclosure of all business dealings, he must also account all secret put on. A director is non supposed to twist around or misuse properties of the company. There was a breach of her fiduciary duty ,thus a fiduciary duties are owned merely to the company non to the individual shareholders. A breach of fiduciary duties of a director is not liable for the action of his co directors since he is an agent of the company and not an agent of his gent d irectors. A company may sue a director for negligence or breach of fiduciary duty which queer be initiated by either the Board or members by a ordinary Resolution. Also when their is a division of powers among directors and shareholders-sec.137&202-204 of the canon. That per sec.

137(3)&(4)-it states that unless the company regulations otherwise provide the board, when acting within the powers conferred upon them by the code& the regulations, shall NOT obey the directions or instrument of the members in general meetings. cf-shaw Vs. Shaw(1935).For as per that decision, a company as an entity is disti nguishable from its shareholders and its dir! ectors and the directors are entitled to act in the interest of the company and not any shareholder. By increasing their remuneration net profit to 40% this was no consent from other members or shareholders. This is because unless a director has a service agreement with the company. He is not entitled to remuneration unless the regulations of company made such an give tongue to provision. In Ghana sec.194, sets type of monetary payments...If you want to break open a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper