New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Additional Notes on Director's Duties

by: moonlightkitty

Additional Notes on Director's Duties BSP1004

Marketplace > National University of Singapore > Business > BSP1004 > Additional Notes on Director s Duties
Business Law

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Some important points about the director's duties
Business Law
Class Notes
business law
25 ?




Popular in Business Law

Popular in Business

This 2 page Class Notes was uploaded by moonlightkitty on Friday October 9, 2015. The Class Notes belongs to BSP1004 at National University of Singapore taught by in Spring 2015. Since its upload, it has received 54 views. For similar materials see Business Law in Business at National University of Singapore.


Reviews for Additional Notes on Director's Duties


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/09/15
Directors Duties Start with 157 then put in categories Con ict of interest under 157 acting honestly 5157A The business of a company shall be managed by or under the direction of the directors Shareholders cannot interfere in the decisions exception appointment of auditorsdirectors 5157 A director shall at all times act honestlyl and use reasonable diligence2 in the discharge of the duties of his of ce S157 Disqualification Directors liable for losses incurred by company Criminal offences fine for breaching his duty 1Act honestly to act bona de to act in the interest of the company aDuty to act in the interest of the company lntraco Vs Multi PakMultipak seemed to have won but actually lost more bDuty to exercise powers for proper purpose Court will consider the legal basis for exercising powers Eg Issuing new shares if raise capitalproper purpose if to dilute voting power of a particular shareholderimproper purpose c Duty to avoid con ict of interest acting honestly director cannot place himself in a position where his personal interest will con ict with the interest of the company Con ict of interest will always arise What he does is crucial Eg Director39s salary Should declare interest in regards to his salary for opinions i No secret pro t Regal Hastings Ltd v Culliven 1942 Culliven directors sod shares and made pro t Regal hastings argued that they would not have made a pro t if they weren39t directors Regal won ii No competition with company Director should not compete with company for any business opportunities If already going to resign for some other reason then can take up business opportunity d Duty to disclose interest 5156 director having an interest in transaction or proposed transaction shall declare nature of interest includes 39deemed interest39 interest of spouse children stepchildren Eg if company buys property in which director have interest in it director must say he will be pro ting from it and the company will decide if they still want to buy it Similiarly if it is owned by relativesfamily members etc must disclose 2 Reasonable diligence reasonable care skill diligence refer to standard of care to be applied objective test what would a reasonable man do in that situation gt there is a minimal standard that applies to all directors unless you have special skills that standard will be raisedbecomes subjective subjective test what would you do


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.