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In corporate law, the directors register is a list of the directors elected by the shareholders, generally stored in the company's minute book.By law, companies are required to keep this list up to date to remove those directors who are deceased or resign, and to add those who have been elected by the shareholders [1] However, the register must also list any person who had been a director ...
Isle of Wight Railway Company v Tahourdin (1884) LR 25 Ch D 320 is a UK company law case on removing directors under the old Companies Clauses Act 1845.In the modern Companies Act 2006, section 168 allows shareholders to remove of directors by a majority vote on reasonable notice, regardless of what the company constitution says.
A court may, and under section 6 shall, make against a person a disqualification order, for a period specified in the order, providing that: he shall not be a director of a company, act as receiver of a company’s property or in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless (in each case) he has the leave of ...
In large companies, such as those on the FTSE100, shareholders are overwhelmingly large institutional investors, such as pension funds, insurance companies, mutual funds or similar foreign organisations. UK shareholders have the most favourable set of rights in the world in their ability to control directors of corporations.
The two exchanges also mandate that to qualify as independent, a director of a public company can receive no more than $120,000 in compensation from it during a 12-month period.
Imperial Hydropathic Hotel Co, Blackpool v Hampson (1883) 23 Ch D 1 is a UK company law case, concerning the interpretation of a company's articles of association.On the specific facts it has been superseded by the Companies Act 2006 section 168, which allows a director to be removed through an ordinary majority resolution of the general meeting.
Bushell v Faith [1970] AC 1099 is a UK company law case, concerning the possibility of weighting votes, and the relationship to section 184 of Companies Act 1948 (the predecessor of s 168 of the Companies Act 2006) which mandates that directors may be removed from a board by ordinary resolution (a simple majority of shareholder votes).
Shareholders can sue McDonald Corp's former global chief people officer for the damage they claim he caused to the restaurant chain by allegedly allowing a culture of sexual harassment to flourish ...