Directors - Law Dictionary Search Results
Home Dictionary Name: directorsDirectors
Directors, persons appointed or elected according to law, authorized to manage and direct the affairs of a corporation or company. The whole of the directors collectively form the board of directors. Their powers, if the company be incorporated by Act of Parliament, are derived from its special Acts and ss. 90-100 of the (English) Companies Clauses Act, 1845; if the company be incorporated under the (English) Companies Act, 1929, see ss. 139 et seq., ibid. The company is bound by all acts of the directors within the scope of their authority. They may receive a salary, but may make no personal profit from the company [see, however, Re Dover Coalfield Ltd., (1908) 1 Ch 65], nor can a pension be granted to a retiring managing director, Normandy v. Ind, Coope & Co., (1908) 1 Ch 84; but they were under no personal liability except for fraud, as to the criminal liability for which see Larceny Act, 1861 (24 & 25 Vict. c. 96), ss. 81 et seq., and DECEIT. Public companies registered after Octob...
Quorum of two Directors
Quorum of two Directors, means a quorum of two directors who are competent to transact and vote on the business before the Board of Directors, Needle Industries (India) Ltd. v. Needle Industries Newey (India) Holdings Ltd., AIR 1981 SC 1298: (1981) 3 SCC 333: (1981) 3 SCR 698....
Managing Director
Managing Director, in relation to a banking company, means a director who, by virtue of an agreement with the banking company or of a resolution passed by the banking company in general meeting or by its Board of directors or, by virtue of its memorandum or articles of association, is entrusted with the management of the whole, or substantially the whole of the affairs of the company, and includes a director occupying the position of a managing director, by whatever name called. [Banking Regulation Act, 1949 (10 of 1949), s. 5 (h)]...
Joint Director
Joint Director, 'Joint Director' means a person appointed to be a Joint Director of Income Tax or an Additional Director of Income Tax under sub-s. (1) of s. 117. [Income-tax Act, 1961 (43 of 1961), s. 2(28D)]...
Director General
Director General, S. 2(g) 'Director General' means the Director General appointed under sub-s. (1) of, s. 16 and includes any additional, joint, Deputy or Assistant Directors General appointed under that, section. [Competition Act, 2002 (12 of 2003), s. 2(9)]...
Director
Director, in relation to an institution, includes (1) any person who occupies the position of a director, by whatever name called; and (2) in the case of an institution established in a country or territory outside the United Kingdom, any person including a member of a managing board, who occupies a position appearing to the Bank of England to be analogous to that of a director of a company registered under the Companies Act, 1985 (UK) Halsbury's Laws of England 3(1), para 24, p. 21....
outside director
outside director : a corporate director who is neither an employee nor an officer ...
interlocking director
interlocking director : one that serves as a director of two or more corporations at one time ...
board of directors
board of directors often cap B&D : a group of individuals elected by the shareholders of a corporation to manage the corporation's business and appoint its officers ...
Board of Directors
Board of Directors, means a group of individuals elected by the shareholders of a corporation to manage the corporation's business and appoint its officers, Webster's Dictionary of Law, Indian Edn. (2005), p. 54....
- << Prev.
- Next >>