S To Act
·
A
in
subjective
Good Faith
duty
To Exercise Proper
Care and Diligence
SK. IL,
1
·
Three matters can be Exercise the same care, skill a
considered exercise
diligence which would be
S The intentions of
1.
by reasonable person the
-
a in s
- the director
1
circumstances, having both:
11. Proper purpose of The Knowledge and experie
·
powers exercised reasonably expecte
2
that be
↑
may
III.
Fettering of a a
person in the same position
The
discretion granted knowledge and experien
·
General Rule the director has
The 2014 Act states that: Howard Smith Ltd It left to the liq
S
v
usually
is
a director ofa shall Ampol Petroleum Ltd to instigate an action thes
company on
the duties set out section
one in
grounds
company (and the director
228 to the Hindle and John Cotton A is not bound to
company alone)" Company Ltd continuous attention to the af
company. Their duties
E
their
of
Regentcrest Plc v an intermittent nature to b
of
Exceptions! Cohen performed at periodical board
that
in the
Courtney argues meetings
·
case
of
a small private company, the Court Overall, skill,
the level of ca
might be more
likely
arising between director and shareholders
to find a
duty
To Avoid Conflicts of
- diligence required
as such there is
is
1. He
quite low, a
litigation
2
due to closer relationship Interest under this heading
In certain transactions directors
·
There are two aspects,
external and internal,
may be held to be
behalf
acting on
individual shareholders
of to this
duty on directors Re
City Equitable Fire Insuran
·
Where a director holds themselves
·
External: not use
Company Ltd
the
out as
acting for a specific company's property,
shareholder, then
they will be information opportunities Re Tralee Beef
or and Lamb Ltd
for their benefit
deemed to owe a
duty to them own
Kavanagh v
Delaney
·
It is established Ireland that ·
Internal:avoid
in
any
when a is insolvent, the conflict between director's
company
directors to the creditors
owe a
duty duties and their other
There other duties that interests"
general
*
are
·
A
in
subjective
Good Faith
duty
To Exercise Proper
Care and Diligence
SK. IL,
1
·
Three matters can be Exercise the same care, skill a
considered exercise
diligence which would be
S The intentions of
1.
by reasonable person the
-
a in s
- the director
1
circumstances, having both:
11. Proper purpose of The Knowledge and experie
·
powers exercised reasonably expecte
2
that be
↑
may
III.
Fettering of a a
person in the same position
The
discretion granted knowledge and experien
·
General Rule the director has
The 2014 Act states that: Howard Smith Ltd It left to the liq
S
v
usually
is
a director ofa shall Ampol Petroleum Ltd to instigate an action thes
company on
the duties set out section
one in
grounds
company (and the director
228 to the Hindle and John Cotton A is not bound to
company alone)" Company Ltd continuous attention to the af
company. Their duties
E
their
of
Regentcrest Plc v an intermittent nature to b
of
Exceptions! Cohen performed at periodical board
that
in the
Courtney argues meetings
·
case
of
a small private company, the Court Overall, skill,
the level of ca
might be more
likely
arising between director and shareholders
to find a
duty
To Avoid Conflicts of
- diligence required
as such there is
is
1. He
quite low, a
litigation
2
due to closer relationship Interest under this heading
In certain transactions directors
·
There are two aspects,
external and internal,
may be held to be
behalf
acting on
individual shareholders
of to this
duty on directors Re
City Equitable Fire Insuran
·
Where a director holds themselves
·
External: not use
Company Ltd
the
out as
acting for a specific company's property,
shareholder, then
they will be information opportunities Re Tralee Beef
or and Lamb Ltd
for their benefit
deemed to owe a
duty to them own
Kavanagh v
Delaney
·
It is established Ireland that ·
Internal:avoid
in
any
when a is insolvent, the conflict between director's
company
directors to the creditors
owe a
duty duties and their other
There other duties that interests"
general
*
are
