5 Questions
Who is considered a Director under common law duties?
Any person occupying position of director of a corporation by whatever name called including shadow D and de facto D.
What is the role of a shadow director?
To give direction and instruction towards directors and the majority of the company is accustomed to working with these directions and instructions.
What is a de facto director?
A person who acts as a director and is allowed to do so by the Board of Directors.
Which positions are included in the definition of a director under S2(1)?
Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer.
How are actions taken by shadow and de facto directors binding to the company?
Actions taken by shadow and de facto directors are binding to the company because they are considered directors and will be held liable as directors.
Test your knowledge on the management of a company with this quiz! Explore common law duties, the role of directors, and the concept of shadow directors. Brush up on your understanding of formal appointments, giving direction, and instructions to directors. Get ready to ace this quiz on company management!
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