Question: If a company does not have a constitution, explain how the Companies Act 1993 divides the power to govern the company between the shareholders and

If a company does not have a constitution, explain how the Companies Act 1993 divides the power to govern the company between the shareholders and the board of directors and whether this division of power is appropriate for most small (2-4 shareholders) companies

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Other than shareholders, an 'entitled person' in the Companies Act 1993 is: A. A person upon whom the constitution confers any of the rights and powers of a shareholder. B. A shareholder with rights...

Q:

Question 13 Marie was appointed as a Director of Best Dressed Ltd to fill a casual vacancy until the next Annual General Meeting (AGM), at which Marie was not re-elected by the shareholders.Best...

Q:

Question 13 Marie was appointed as a Director of Best Dressed Ltd to fill a casual vacancy until the next Annual General Meeting (AGM), at which Marie was not re-elected by the shareholders.Best...

Q:

Question 13 Marie was appointed as a Director of Best Dressed Ltd to fill a casual vacancy until the next Annual General Meeting (AGM), at which Marie was not re-elected by the shareholders.Best...

Q:

In reference to three financial years, please discuss the firms corporate governance and ownership structure and provide suggestions on how to improve. Discuss whether its corporate governance is...

Q:

Please answer questions with clear explanation. Thank you. 1. Equity Investments Co Ltd (EICL) is constituted under the Companies Act 1993. EICL has a registered constitution which provides, amongst...

Q:

Please answer questions with clear explanation. Thank you. 1. Equity Investments Co Ltd (EICL) is constituted under the Companies Act 1993. EICL has a registered constitution which provides, amongst...

Q:

Read this article above, then read the Article below which is the UBER case study and answer the question CMS ENERGY CASE MATERIALS PART 1 (early press description of initial issue) FORBES.COM Top Of...

Q:

The business and affairs of a company must be managed by, or under the direction or supervision of, the board of the company unless its constitution, or the Companies Act 1993, provides otherwise. A....

Q:

QUESTION FOUR Western Railway Co Ltd (WRL) is constituted under the Companies Act 1993. It owns and operates a railway line. It has a registered constitution which provides, amongst other things,...

Q:

Why are Internal Service Funds sometimes not subject to fixed budgetary control?

Q:

a) The Older Than Dirt potting soil company uses a machine to fill 500-ounce bags of enriched potting soil with a standard deviation of 4 oz. The industry group has set limits on what can be called a...

Q:

Your original investment of $10,000 grew in the first year by 12%. In the second year, the entire amount grew by 5%. In the third year, the entire investment shrank by 4% (negative growth). Determine...

Q:

. Q4 A stock has a beta of 1.2 and an expected return of 16 percent. A risk-free asset currently earns 5 percent. (a) What is the expected return on a portfolio that is equally invested in the...