The provisions relating to the appointment of a director to a new company are contained in section 150-155 of the Companies Act 1993. The appointment and removal of directors is a matter of internal management for a company, however any changes to the directors of a company must be notified to the Registrar of Companies in New Zealand.
Pearse Trust Blog
A report on directors' remuneration draft by GC100 & Investor Group has outlined a number of guidelines in respect of the implementation of new reporting requirements surrounding directors' remuneration.
Following our blog earlier this year on the call for female board representation to be increased, new figures published show that FTSE100 Companies have now increased female representation on their boards.
In the UK, a director may be removed from their position by the company in certain circumstances.
In recent times, there has been an increase in the number of directors who have found themselves in the High Court facing applications to restrict or disqualify them for various breaches of the Companies Acts.
A director is an officer of a company, appointed by the shareholders or by the other directors where the Articles of Association of the company allow, to manage the company on behalf of the shareholders.
In the everyday course of business, boards are required to reach collective agreements. Considering the different personalities, opinions, behaviours and the executive and non executive functions of the individuals on a boa rd, reaching collective agreements can sometimes be challenging. However, it is healthy for individuals on a board to disagree, challenge each other and offer alternative solutions to problems. Employing appropriate etiquette can be fundamental in ensuring that a board of diverse minds speak with one voice.
Further to our recent blog post outlining the key facts of members’ voluntary liquidations (MVL), the following is intended as a summary of the key facts of the creditors’ voluntary liquidation (CVL) procedure available to insolvent private limited companies in the UK.
Creditors’ Voluntary Liquidations Explained
A CVL is a procedure typically instigated by the directors of an insolvent company where it has been established that the company’s liabilities exceed its assets, or where it cannot pay its debts as they fall due, and therefore cannot carry on its business. The procedure is governed by the Insolvency Act 1986 and the Insolvency Rules 1986 (SI 1986/1925).
A resolution is a formal way in which a decision is proposed and passed at company meetings. Essentially, a resolution is written documentation describing an action that has been authorised by either the directors or members of a Company.
Statutory records and registers are official books kept by a company relating to legal and statutory matters. The following is a note on the legal obligations on Irish companies to maintain these records.