China Investments Pty Ltd, a wholly owned subsidiary of AMGL, has not adopted a constitution. It currently has two directors: Charlie Chester (who is also a director of AMGL) and Tom Tucker, an employee of AMGL. Tom has resigned from AMGL and AMGL would like to replace him on the China
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China Investments Pty Ltd, a wholly owned subsidiary of
AMGL, has not adopted a constitution. It currently has two directors: Charlie
Chester (who is also a director of AMGL) and Tom Tucker, an employee of AMGL.
Tom has resigned from AMGL and AMGL would like to replace him on the China
Investments board with Wendy Wu. What steps are required to do this?
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Solved in 2 steps
- Munir has been appointed as a non-executive director director in Syarikat Mualim Sdn Bhd (“the company”). Other Mualim’s directors have now discovered that Robert has previously been an executive director of three public listed companies. Discuss whether there are any grounds on which the Registrar may disqualify Munir from acting as a non-executive director.One of the cofounders of Project Repat is no longer with the company, although he retains a small ownership stake. What complications might this change have caused if Project Repat was set up as a partnership rather than a corporation?The Securities and Exchange Commission denied the amendment of the Articles of Incorporation of Corporation B because it found out the corporation will be used as a drug den. What is the definite ground of disapproval of the amendment? a. The certification concerning the amount of capital stock subscribed and/ or paid is false. b. The purpose/s are patently unconstitutional, illegal, immoral or contrary to government rules and regulations. c. Not substantially in accordance with the Code. d. The required percentage of Filipino ownership of the capital stock under existing laws or Constitution has not been complied with.
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- At a recent board meeting of Dartig Co, a non-executive director suggested that the company’s remuneration committee should consider scrapping the company’s current share option scheme, since executive directors could be rewarded by the scheme even when they did not perform well. A second non-executive director disagreed, saying the problem was that even when directors acted in ways which decreased the agency problem, they might not be rewarded by the share option scheme if the stock market were in decline. Explain the nature of the agency problem. Discuss the use of share option schemes and performance-related pay as methods of reducing the agency problem in a stock-market listed company such as Dartig Co. I need help with a more detailed explanation to the responsesTim, a member of a company desired to put forward a resolution about changing the director of the company. However, the accountant of the company mentioned to him that he cannot pass the resolution alone. Nevertheless, Tim did not take the advice of the accountant and put forward his resolution. Required1. With reference to Companies Act of Fiji 2015, explain the laws pertaining to members’ resolutions.At the 2019 international meeting of business leaders, Michael Owusu said that multi-jurisdictional attempts to regulate corporate governance were futile because of differences in national culture. He drew particular attention to the Organisation for Economic Co-operation and Development (OECD) and International Corporate Governance Network (ICGN) codes, saying that they were, 'silly attempts to harmonise practice'. He said that in some countries, for example, there were 'family reasons' for making the chairman and chief executive the same person. In other countries, he said, the separation of these roles seemed to work. Another delegate, Victor Bema, said that the roles of chief executive and chairman should always be separated because of what she called 'accountability to shareholders'.One delegate, Vincent Tommy, said that the right approach was to allow each country to set up its own corporate governance provisions. He said that it was suitable for some countries to produce and…