Directors to perform the duties, Business Law and Ethics

Directors to perform the duties:

Therefore it cannot be that the auditors  are to be at the expense and trouble not merely of sending their report through the post but of delivering a copy to every member.  It seems that one is forced by circumstances to limit the meaning of the words "the members" and I hold that they mean "the members assembled in the familiar meeting".... whereas the report is to be made to the members in general meeting, then it would not be right, I think, to hold that the duty of the auditors is to make that report themselves to the members in general meeting unless they can themselves call a general meeting or can compel someone else to call a general meeting.  There are no means by which they can call a general meeting or compel other persons to convene a general meeting.  The only persons who can call a general meeting are the directors or the meeting who have called upon the directors to do so and they have failed to do so.  The audience themselves are powerless.

In my judgement the duty of the auditors, after having affixed their signatures to the reports annexed to a balance sheet, is confined to forwarding, that report to the secretary of the company, leaving the secretary of the company or the directors to perform the duties which the statute imposes of convening a general meeting to consider the report....The statute compels directors to convene a meeting once a year and compels directors to present reports to the general meeting and it is for the shareholders to see that the directors do their duty...the duty of the auditors is discharged by sending the report to  the company's secretary....."

Posted Date: 1/15/2013 2:42:48 AM | Location : United States







Related Discussions:- Directors to perform the duties, Assignment Help, Ask Question on Directors to perform the duties, Get Answer, Expert's Help, Directors to perform the duties Discussions

Write discussion on Directors to perform the duties
Your posts are moderated
Related Questions
A team of players from a Singapore-based university was planning a trip to Cameron Highlands, where an exhibition on the history of tea, the process of growing, harvesting and proc

Explain about the European court of justice rulings. European Court of Justice Rulings: This observes that EU law is being interpreted correctly and resolves any matters

Description of terrorism UNSC has successfully come up with laws to deal with terrorism and with the help of the theory of self determination, use of force and IHL, tried to re

I. Sammy has been under continuous employment with World Entertainment Ltd for 5 years. Last Friday Sammy was called to the Director's Office and verbally informed that h

Q. Statutory task force on phoenix activity ? A long term option could be the establishment of a statutory task force on phoenix activity. This could be supported by all the re

Take-over bids: Section 210 provides that where a scheme or contract  involving the transfer of shares or any class of shares in a company to another company has been approved

Special Courts However in addition to the courts dealt into paragraphs as 2.1 - 2.7 above, there exist in England a number of other institutions that are called "courts" or "t

Registered Office Clause:                          Section 5(1) (b) provides that the memorandum of association shall state that "the registered office of the company is to be

Void Contracts - Law of Contract Whereas  the Infant's Relief Act 1874 of the UK applies to the US as a statute of general application such was in force in the UK on date 12 A

Corgi was the breeder of prize-winning pedigree dogs that often sold for very high prices. Reynolds, a wealthy businessman who had recently retired, decided to purchase one of thes