Directors remuneration - company management, Business Law and Ethics

Directors' Remuneration:

For technical reasons the directors are not regarded as servants or employees of the company of that they are directors. Therefore  here they have no right to be paid for their services unless there is a provision for payment in the articles. In the case of companies which have adopted Table A, Article 76 provides that "the remuneration of the directors shall from time to time be determined by the company in general meeting." Conversely in Re: Duomatic Ltd it was explained that a provision in the articles authorizing payment of directors' remuneration does not, per se, give the right to be paid any specific amount. There must also be a resolution passed by the company in general meeting authorizing the payment.

Provided the resolution has been passed, hence the remuneration is payable where profits are earned or not: Re: Lundy Granite Co. Article 76 provides that "the remuneration shall be deemed to accrue from day to day". Because a director one who vacates office before completing a year or a month in office is entitled to a proportionate part of his yearly, or monthly salary: Moriarty v Regent's Garage Co.

Posted Date: 1/12/2013 4:46:22 AM | Location : United States







Related Discussions:- Directors remuneration - company management, Assignment Help, Ask Question on Directors remuneration - company management, Get Answer, Expert's Help, Directors remuneration - company management Discussions

Write discussion on Directors remuneration - company management
Your posts are moderated
Related Questions
a) Sometime in the mid 21st century the Jones-Markus experiment attempted to create a capuchin monkey with human intelligence. The experiment, however, outdid its intentions by se

FutureEd corp., a Bangladesh based catering company has decided to extend its catering business in the main divisional cities. They have come up with the decision to open up some r

Name the issue pertaining to state succession The first issue pertaining to state succession is treaties. The new state would have to embark upon with the treaties signed by th

phoenix activity involves "the evasion of tax and other liabilities, such as employee entitlements, through the deliberate, systematic and sometimes cyclic liquidation of related c

Domicile law of UK However a person's domicile is such country in where he either has or is deemed through law to have, his permanent home.  Hence it is the country of permane

Determine the role of Policy entrepreneurs These couplings are made, Kingdon argues that policy "entrepreneurs" brokers or middlemen, known as Policy entrepreneurs, play a key

Illegal Partnerships - Number of Partners However a partnership will be illegal in the following state of affairs: like;; (a)   Whether it is formed for an illegal purpose

Theories of international antitrust coordination We have come across various policy coordinations and adjustments but still there are other spheres of affairs where direct poli

Illustrate the private bill of members? Private members’ Bill: It is where some MP’s are specified the chance (through ballot) to introduce a Bill on something which is o

Identify two firms with similar problems but from different countries. Conduct a comparative analysis of the firms.Analyze political, social, ethical, and legal differences facing