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3 Found helpful 18 Pages Complete Study Notes Year: Pre-2021

BUSL301 FINAL EXAM NOTES: LECTURE 5: DIRECTORS AND MANAGEMENT:  s9. A director is appointed to the position of a director by legal circumstances  “De facto” directors: not validly appointed in situations, but have influence on the management of the company or conduct of directors. Test is whether they were acting in position of a director (Depute Commissioner of Taxation v Austin 1998- still acting as director= court ruled Austin was liable as director of firm.)  “Shadow” directors: exercises a controlling influence over the board of directors, but person is not formally elected as a director. (Chameleon Mining v Murchison Metals Ltd- company cannot be appointed as director, but can be SD)  S201A. requires: o Public Companies to have at least 3 directors o Proprietary Companies to have at least 1 director  Types of Directors:


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