Jack and Jill are the directors of J-J Sdn Bhd, a company which specialises in the...

 

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Jack and Jill are the directors of J-J Sdn Bhd, a company which specialises in the manufacture and sale of perfumes and aromatic oils. The company is quite profitable and its products are in much demand. Recently, Snowyte, a member of the company, discovered the following: Jack has set up a business in partnership with his brother, Tom. Their firm, JT Brothers, also deals in the manufacture and sale of perfumes and aromatic oils. Jack has been able to bring in substantial business to the firm. J-J Sdn Bhd has lost some of its business due to the competition from JT Brothers. (10 marks) s213; s214 = fiduciary duty = conflict of interest? (a) (b) 300,000. Snowyte complains that the members of the company were not notified of the purchase. She has also learnt that Jenny is Jill's sister-in-law. (10 marks) s223 = substantial value; s222 = disclosure; s197 = connected person Last month, Jack and Jill bought a piece of land for J-J Sdn Bhd from Jenny, for RM %3D Snowyte wishes to know whether Jack and Jill have breached any of the provisions of the Companies Act 2016 in the above-mentioned situations and the consequences if such breach has in fact occurred Jack and Jill are the directors of J-J Sdn Bhd, a company which specialises in the manufacture and sale of perfumes and aromatic oils. The company is quite profitable and its products are in much demand. Recently, Snowyte, a member of the company, discovered the following: Jack has set up a business in partnership with his brother, Tom. Their firm, JT Brothers, also deals in the manufacture and sale of perfumes and aromatic oils. Jack has been able to bring in substantial business to the firm. J-J Sdn Bhd has lost some of its business due to the competition from JT Brothers. (10 marks) s213; s214 = fiduciary duty = conflict of interest? (a) (b) 300,000. Snowyte complains that the members of the company were not notified of the purchase. She has also learnt that Jenny is Jill's sister-in-law. (10 marks) s223 = substantial value; s222 = disclosure; s197 = connected person Last month, Jack and Jill bought a piece of land for J-J Sdn Bhd from Jenny, for RM %3D Snowyte wishes to know whether Jack and Jill have breached any of the provisions of the Companies Act 2016 in the above-mentioned situations and the consequences if such breach has in fact occurred

Answer rating: 100% (QA)

Answer to Part 1 In the first case Director enter into another partnership doing same business which is against rules prescribed in articles of association of company The Companies Act prohibits a dir... View the full answer