Company Law also requires that WFOEs and JVs have at least one supervisor to supervise the execution of company duties by the directors and senior management personnel. To ensure that there are no conflicts of interest, directors and senior management personnel cannot concurrently serve as ...
Undisclosed Liabilities of the Company. Except as set forth in Section 3.12 of the Disclosure Schedule and except for Environmental, Health and Safety Liabilities which are dealt with in subsections 3...
LLC is often more challenging to transfer than a company. In the case of a company, the company can sell its shares to increase ownership, and stakeholders can sell their stocks to someone else unless there is an opposite stockholders agreement. Normally, in the case of LLC, all members are...
In order to simplify the wording, in this article, the word of “senior management” shall be read as covering both directors and legally defined senior management.2. Defining the Duty of Loyalty and Duty of Care According to the current Company Law, company’s senior management owes duty of...
A variety of legal responsibilities apply to the directors of a company in the same way as to anyone else involved in running a business鈥攆or instance, the duty to comply with law and regulations in respect of employment, health and safety, public liability, consumer protection, VAT, excise...
Employee Compensation PayableEvery business incurs a number of accrued liabilities relating to pay 9、roll. The largest of these liabilities is the obligation to pay employees for their services rendered during the period. Dividend payable is a liability that is created when the board of directors ...
A company's work must necessarily be distributed between the board of directors and its staff; and the larger the business, the more numerous and the more important will be the matters that must be delegated. In ascertaining what a company's director's duties are, the nature of the company...
Restrictions on the Appointment of Directors A director of a public company should file his consent with the registrar. He cannot vote or participate in any discussion on a contract on which he is interested. Managerial Remuneration For a public company, the remuneration payable to a manager canno...
proposed or future transaction in such shares or control) which shall have been undertaken without the prior, express approval of the Trust’s Board of Trustees; or, (ii) is within the control of the Adviser or any of its affiliates or any of their officers, directors, employees or ...
A Singaporean construction company in liquidation has successfully sued one of its former directors for failing to act in the best interests of the company, highlighting the importance of directors being aware of, and protecting against, potential person