It is widely recognised that a director should not merely 'grace' board meetings, but participate actively in the affairs of the company and should, as an agent of the company, display utmost skill, care and diligence in the exercise of his or her powers and functions on behalf of the company.
Tags: Legal, Directors, Corporate Governance
Section 56 of the Irish Company Law Enforcement Act 2001 obliges liquidators of insolvent companies, within six months of their appointment, to submit a report to the Office of the Director of Corporate Enforcement detailing, inter alia, the conduct of the directors, shadow directors or de facto directors during the twelve months preceding the liquidation. The liquidator is subsequently obliged to institute proceedings pursuant to section 150 of the Companies Act 1990 to have the directors restricted, unless relieved of this obligation by the Director of Corporate Enforcement. In 2010, 170 restriction applications were brought in the High Court, of which 156, or 96%, were successful.
Tags: Ireland, Legal, Directors, Corporate Governance
Tags: Ireland, Legal, Directors, Corporate Governance, United Kingdom
In Irish law, Part III of the Companies Act, 1990 ("the 1990 Act") sets out a number of restrictions on loans being made to Directors and connected persons in an attempt to prevent an abuse of power which could be detrimental to the interests of shareholders and creditors.
Tags: Ireland, Legal, Directors, Corporate Governance
Sole Traders or Partnerships wishing to incorporate their businesses in Ireland may avail of a wide number of benefits.
Tags: Ireland, Legal, Corporate Governance, Incorporation, Tax
