Company Law Legal Organisations Essay Example for Free

Company Law Legal Organisations Essay Introduction Thor plc is a Public Limited registered company as per the provisions of Companies Act 1985, listed in London Stock Exchange.   A public limited company must have at least two directors to manage the business affairs of the company apart from a qualified company secretary.   Further public limited companies are also permitted to offer shares to the public to raise funds by way of public offer of shares to a minimum value of   Ã‚ £50,000. Thor plc is a commercial catering company   which has both shares and debentures to its credit.   A public limited company is governed by its Memorandum and Articles of Association which details the entire internal and external boundaries of a director beyond which a director cannot act in any manner.   Chapter 2 Section 171-177 of Companies Act 2006   provide about scope and nature of general duties of a director. Some of the important general duties are : Duty to act within powers and in accordance with the company’s constitution (MA) and exercise powers dutifully.(Sec.171) Section 172 states that a director must promote and work to the success of a company in bona fide and in good conduct for any long term decisions, in the interests of company employees, fostering the business relationship with business suppliers, customers and others, consider the company’s operations, its impacts on environment     and community.   A director must have interest to maintain the reputation of the company. Section 173 states that a director has the power to exercise independent judgment which is in accordance with the provisions and compliance of legal provisions enabled by Companies Act 2006 and authorized by Company’s constitution and which is not restricted and in contradiction with the agreement entered into between the director and the company. Section 174 states that a director must exercise reasonable care, skill and diligence. Section 175   provides that a director is in a position to always avoid a conflict of interest. Section 176 provides that a director must not accept any benefits   from third parties. Third parties means a person other than the company, a person acting on behalf of a company, an associate body or a body corporate. Section 177 provides that a director can always declare interest in a proposed transaction or arrangement. The proposed interest must be disclosed or declared either in a meeting with other directors, by a notice to other directors in accordance with Section 184   (notice in writing) or Section 185 (general notice). A director need not disclose interest in case the director is of the opinion that (a) the proposed interest for a transaction may give rise to a conflict of interest. (b) To an extent, if other directors are aware of transaction. ( c) The proposal need to be considered in a meeting of directors or by a committee of directors appointed for this purpose under company’s constitution. Section 178 deals with civil consequences of breach of general duties by   a director. Companies Act 1985 imposes a statutory prohibition that it is a criminal offence if a director without the prior permission of the Board, considers an option to sell or buy shares or debentures.   Insider trading is a criminal offence under Financial Services Act 1986 as per sections 61-62A when a private investor or person suffers a loss from breach of statutory duty which is caused by a director. Under Criminal Justice Act 1993 Part V, if a person knowingly commits insider trading, it will be considered as offence if, buy or sell shares is performed in a regulated market, where there is intermediary professional. Encourages another person to deal with such proposals of insider trading. Disclosure of information to persons who are outside of office, employment or profession. All the above offences are penalized either with fine or imprisonment of up to seven years. Mary in the capacity of a director, is entitled to sell Thor Plc shares which are held by Mary in the position of a director only after the prior intimation to the Board and after a resolution has been passed to that extent that certain number of shares held by Mary, the director of Thor plc can be sold. Mary has committed a serious offence by neither intimating the Board about selling of shares, nor took the consent of the Board in which case,   Mary has invited penalties under Companies Act 2006. Further, Mary has also encouraged another shareholder Graham to sell shares by revealing the confidential business information about the company which is also another serious offence which was not supposed to be performed by a director who is in the Board of a company. Mary as director has violated all the legal rules of Companies Act 2006 and has violated the rules of Thor plc. In view of the above, Mary is either required to pay a penalty or seek assistance from a legal practitioner 2(a) In October 2008, certain of the codified directors’ duties come into force. Explain briefly the relevant fiduciary duties which will be applicable prior to that date Directors have the major decision making power in a company. No other position in a company is greater than the position of a director.   The duties of directors are designed in a way that companies’ interests are protected, shareholders interests are protected in order to make corporate business as transparent and efficient.   There are many rules, statutory duties and fiduciary duties for a director’s position which have to be fulfilled in accordance with Companies Act 1985 and as amended by Companies Act 1989.   The government is of the opinion that codification of directors’ duties which are included in the Companies Act 2006, which was granted permission from Royal Assent on 8th November, 2006, ensures the law to be consistent and also enables directors to not to breach any duty that is written in law. Prior to the codification of directors’ duties, the fiduciary duties were prevalent which are briefly explained as below. Further fiduciary duties are of two categories. (1) Duty to act in good faith in the interest of the company and not for any collateral purpose. (2) Duty to not to permit conflict of personal interest with that of duties to be discharged as director of a company.   Ã‚  Fiduciary duties can never be breached by a director wherein case, the director would be held responsible for any loss suffered thereof.   Any profit or loss that is made from the discharge of duties by   a director, must be disclosed to the company in all respects.   Directors owe duties to the company only and not to individual members.   A director must disclose any interest in a proposed contract or a contract in a meeting of the directors of the company.   Director’s service contract must be kept available for inspection by the members.   Service contracts for more than five years must be approved in a general meeting.   Further a director must notify the company about any personal interest in shares of the company.   Personal liability for a director is more when   a director is participating directly or indirectly in fraudulent trading in the event of a company being liquidated or wrongful trading when a company is being declared as an insolvent and the court holds director as liable. When a company is in insolvent liquidation, the directors of the company are not eligible to incorporate another company in the same name or similar to the existing name for a term of five years. In case if a director is floating another company with the similar name, director becomes personally liable for the debts of such new company. Further an officer or director who signs cheques or orders for goods on behalf of the company is also held personally liable for all the transactions of the company, when the name of company does not appear on cheques or order documents.  Ã‚   Company records have to be kept at the registered office for inspection of company law officials or such other authorized persons as per Companies Act 2006. Fiduciary duties of a director are of equal source of personal liability as that of general duties of a director.   All fiduciary duties are self-explanatory whereas all general duties are specific and task-oriented for each director.   Breach of director’s duties result in either as offence, personal liability or termination of directorship as per the provisions of Companies Act 2006. There are totally four directors in Edu-con Ltd who are managing the business affairs of the company.   The constitution of Edu-con Ltd is governed by its Memorandum and Articles of Association of the company which details the powers and duties of directors of Edu-con Ltd and further statutory laws and provisions of Companies Act 2006 apply to Edu-con Ltd for both filing the required statutory documents and for detailing the duties of directors of Edu-con Ltd.,   All the four directors of Edu-con Ltd for responsible for execution of general duties as well fiduciary duties of the company. Part 10 Chapter 1 Section 154 – 169 of Companies Act 2006 details about appointment and removal of directors. Chapter 2 of Part 10 Section 170 – 177 of Companies Act 2006 details about general duties of   directors. Section 252 of the Companies Act 2006 details about persons connected with a director. Section 253 of the Companies Act 2006 details about members of director’s family.   Section 254 states about a body corporate with which the director is connected.   Vera Freet lives with her partner, Bertram Boss who owns a business by name â€Å"Bell Agentis†. Vera Freet did not disclose partner Bertram Boss in any Board meeting and neither while selling the land adjacent to â€Å"Bell Agentis† for value  £350,000 to Edu-con Ltd., whereas it is important for a director to disclose about family members and also about any interest in business proposal that is related to the business management of Edu-con Ltd., Wilson Rabbit who is another director of Edu-con Ltd., has earned a commission of  £900 for awarding a printing contract to Bees Books Ltd.,   In this aspect, Companies Act 1985 states that disclosure of transactions that are within a sum of    £1000 in a financial year need not be disclosed by a director as long as it is a secret commission in terms of monetary benefit earned by a director. It is also important that the acts of directors are within the purview of Articles of Edu-con Ltd., and considered not as an offence.   However it is important that the Board must be notified about the paying of commission by Bees Books Ltd., to the director even though it is a small amount,   for all good purposes and to keep the transparency of the transactions. According to the EU Directive when a company is taken over by another company, existing board or change in board effects the value of   the company. In the present case, Edu-con Ltd has been taken over by another company, and subsequently there is also a change in the board members which means the existing four directors of Edu-con Ltd no longer carry the position of director. Any transactions that are still in term period do not hold good when a director ceases as board member which is relevant in the case of   Wilson Rabbit who has been receiving commission from Bees Books Ltd for printing contract. Similarly the land that is acquired from Bell-Agentis can also be reconsidered whether it should be retained by the new board members.   The new board has every right and authorized to write-off all the transactions that were exercised by previous board basing on the interest of the new board and for making the business good. Conclusion Companies Act 2006 is yet to come into force effectively by the end of the year 2008 as there are many changes in Company Reform Bill to bring order to all the existing UK companies and for all the new companies that are being incorporated. However it is important to always refer Companies Act 1985 as well Companies Act 2006 for deriving the maximum benefits in the matters related to directorships and financial related matters. References Companies Act, 2006 Reviewed 14 April 2008 http://194.131.210.216/eappub/includeimages/2007041722C1FAUHD_Companies%20Act%202006.pdf Company Law guide http://www.youngandpearce.co.uk/corporat.htm Companies Act 2006 and duties of directors Reviewed 17 April 2008 http://www.bytestart.co.uk/content/legal/35_2/companies-act-directors-duties.shtml Companies Act, 2006 Reviewed 14 April 2008 http://www.opsi.gov.uk/acts/acts2006/pdf/ukpga_20060046_en.pdf Explanatory Notes to Limited Liability Partnerships Act 2000 Chapter 12 Reviewed 14 April 2008 http://www.opsi.gov.uk/ACTS/acts2000/en/ukpgaen_20000012_en_1 Partnership Act, 1890 Reviewed 14 April 2008 http://www.hmrc.gov.uk/manuals/bimmanual/BIM72505.htm http://www.opsi.gov.uk/ACTS/acts2006/ukpga_20060046_en_1 http://www.opsi.gov.uk/si/si2007/uksi_20072194_en_7 http://books.google.co.in/books?id=zb7VqRT4hOgCpg=PA44lpg=PA44dq=selling+of+shares+by+director+of+a+company+is+a+criminal+offencesource=webots=9RfouwoVBzsig=8REfcxgg1RLBiW-dxrG-4ioh6uwhl=en#PPA52,M1 UK Government’s new Company Law Reform Bill Reviewed 14 April 2008 http://www.mallesons.com/publications/2005/Dec/8221850W.htm

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Description of superstorm sandy â€Å"Superstorm Sandy† is the unofficial name for Hurricane Sandy, the deadliest and the most destructive hurricane of the 2012 hurricane season. It was a category three when it was at its peak. It was also the 18th storm named and the second major hurricane in the year 2012. While the hurricane was at its category two, it hit the Northeastern United States and was the largest Atlantic hurricane ever in terms of diameter with winds spanning 11,000 miles. The overall damage caused by the hurricane amounted to $68 billion dollars, a total only exceeded by Hurricane Katrina. Furthermore, the hurricane led to the death of 286 eased in the 20th century, there is still argument on whether Steps can be taken to decrease the negative effects of GCC While human beings have the ability to destroy the planet, they have also the ability to protect the planet. Global climate change is a significant problem in one country or one person to solve. However, every person can contribute to a positive change and influence others to do the same. The first step to tackle the problem is informing others about global climate change, global warming, and their causes. According McCright and Dunlap (2011), education about the subject is the first important step in taking an action because it will make people start to change their lifestyle. Additionally, governments must come up with new regulation in the energy industry, which are the main producer of carbon dioxide, According to Nanda (2011), preventing global climate change requires a series of changes to maintain a lifestyle that people are used. The author argues that carbon emissions need to be stabilized before the year 2016. This is to counter any inexorable changes to t... ...l climate change is unreal, objective studies have shown that the impacts of global climate change are with us. These impacts include extreme weathers such us El Nià ±o, La Nià ±a, frequent strong hurricanes, drought, global rise in sea level, and increase in average global temperature. Global climate changes are brought about by human activities such as deforestation and burning of fossil fuel. Therefore, steps to combat climate change starts with the education of people so that they can change the lifestyle. Governments must establish legislation than allows conservation and rehabilitation of damaged forest, and reduce the burning of fossil fuel and. Furthermore, money must be issued to help people adapt to the already occurring impact of climate change. In addition, government must also put preventive measure to protect people and material from any potential impacts.

Seventeen and Maybelline

Talisha Jackson Professor Benjamin Foster Writing 121 10/29/2012 Seventeen and Maybelline Seventeen is a cheap, popular magazine whose pages are full of various fashion or cosmetic tips, articles, and advertisements. Seventeen also focuses on the unknown details of popular stars, movies, celebrities and television shows. Maybelline Cosmetics is a well-known, expensive brand of makeup which is owned by L’Oreal. I will be analyzing both the Seventeen magazine and a Maybelline advertisement, to decide if the particular ad could be placed in the magazine.On the cover of the 2012 August edition of Seventeen is the Filipino actress Shay Mitchell. She is shown smiling while leaning against a white wall her arms are firmly crossed in front of her, showing off her blue bracelets and ring. Her brown hair is being blown back by an unknown force, revealing her blue and purple earrings which match her bracelets, purple lopsided shirt and purple flower patterned denim jeans. Right next to S hay in bold teal letters is the television series she’s in â€Å"Pretty Little Liars†, and under that in smaller plain text, is â€Å"Spoiler Alert! The wild plot twist she didn’t even see coming. Shay’s head is slightly covering the magazine’s title â€Å"Seventeen†, and surrounding her are the main topics of this edition. Such as: â€Å"Redo-Your-Room—For Free†, â€Å"Back-To-School Preview†, â€Å"805 Fashion & Beauty Ideas†, â€Å"Free nail polish†, â€Å"Best Jeans for your Body & Budget†, and â€Å"The Guy’s Secret Thoughts (what he’s not telling you)†. They’ve also posted the URL for their website in small orange print at the bottom right corner. August is the month where most students in high school or college are getting ready for going back to school, or are already back in school.Three of the main articles in this edition are about cheap ways to redo your entir e appearance. The ‘Back to School Preview’ article is full of pictures of women who are promoting make-up or hair products, and telling the readers ways to achieve these unique styles and what to buy. Such as the Hot Chocolate style â€Å"Upgrade your everyday earth tones with rich chocolaty color on eyes and lips. You get an A+ when the finish is matte. † The article tells the reader to buy MAC Pro Longwear ($20) and NARS Pure Matte Lipstick ($25) n order to achieve this look. Judging by the time this edition came out, some of the main topics, and the fact that this section of the article tells the reader that she’ll get â€Å"An A+ when the finish is matte† is safe to say that this magazine targets women in high school through college who want to get the best deals on clothing/cosmetic products and are interested in changing their look. Unlike most magazines, Seventeen does not have a table of contents. It does, however, number its pages which tot als up to 175 pages.Within these pages are advertisements for cosmetic products such as Covergirl, Maybelline, Pantene, and NYC. Covergirl dominants these with 5 full page ads, two of which are located in the first couple pages of the magazine. Pantene and Maybelline aren’t too far behind with 2 full page ads each, and NYC is in last place with 1 full page ad. The first thing you see when you open the magazine is the CoverGirl ad for their ‘Clean’ brand of cosmetics. This ad features Taylor Swift, whose skin looks gray and contrasts with her bright blue eyes and salmon colored pink lips.In quotations under Taylor is â€Å"why do I love clean? Because it’s sensitive to my skin† and under that a small description of the product. The other cosmetic ads are similar only promoting other products like eye shadow, mascara, primer, nail polish, etc. The cosmetic advertisements within the magazine itself reveal that the readers are interested in make-up, but only products which enhance their features and hide their blemishes’. Seventeen attempts to incorporate all different kinds of young women into their magazine.In the first 51 pages alone they have 49 models who are a minority, and 58 who are Caucasian. These models claim almost equal time as both the main model in the advertisement and as the supporting models. This edition of Seventeen doesn’t include one article or advertisement promoting weight loss or any form of dieting. Instead they have a small article written by an editor who promises that the Seventeen magazine will â€Å"not edit a model’s face or body†, â€Å"always features models who are real and healthy looking†, and to† celebrate all different types of bodies and people†.Although skinny models dominant the magazine itself, models of all different shapes and sizes have their place somewhere in its pages. Seventeen includes everyone in its pages, and caters to any type of young women who is into fashion. The women are not the only thing that ranges. Being a cheap magazine, Seventeen’s advertisements promote not only expensive brands such as Express and American Eagle but cheaper brands such as Target and Jcpenny.One of their main articles is about shopping for jeans on a budget, which delivers the readers some options for picking out jeans to match their funds. This ‘article’ is seven pages long, shows seven different brands of jeans and how much they cost. In the Aeropostale ad they show three women running arm and arm. The first female on the left of the ad is wearing floral jeans, the girl in the middle is wearing acid green skinny jeans and the last girl is wearing coral colored skinny jeans.All of those jeans cost around $25, while the adjacent ad’s jeans average around $55. Throughout the magazine, Seventeen has also added in several coupons, like buying a pair of Aeropostale jeans for $20, and another one for 20% off your entire purchase at Bed, Bath, and Beyond. They’ve also placed a coupon for free mini nail polish, and tips on how to redecorate their room for free. These show that the readers of the magazine include people from all different income levels and don’t cater to one particular income level.Advertisement is a multi-billion dollar industry which is always looking for new ways to sell the consumers a product they usually don’t need. It plays with the consumer’s wants, needs, fantasies, and insecurities to market their item, while promising that it’ll be faster, better, and more efficient than the rest. When pertaining women fashion, dieting and cosmetic products dominant much of the advertising world. The advertisements promise that if the readers wear this particular item, or use these products they’ll be attractive. The Maybelline New York advertisements’ are no different.This particular ad for Maybelline presents their new lineup o f anti-aging products, named â€Å"Instant Age Rewind†. The advertisement plays with the whole minimal effect by not including a model, not having a background and not adding any words other than the ones on the make-ups’ packaging. This in terms draws the reader’s eyes to only their products, and allows the reader to come up with their own descriptions. They probably went this way since their original â€Å"Age Rewind† advertisement was banned in the UK, for their model looking perfect through the use of Photoshop.On every bottle or tube of the five â€Å"Age Rewind† products, clearly displaces the words â€Å"Instant† and the word â€Å"New†. The word Instant promises that the effect will happen instantaneously. That as soon as the customer puts the product on their face, they’ll instantly look younger. The word new either means that this is an entirely new product, or a slight modification of a previous product. Other than à ¢â‚¬Å"New†, there is no other weasel word, which means that the product promises to instantly make the customer appear younger, and not â€Å"Virtually instant†.Both of these words will help market their product by promising the readers a brand new product which will instantly make them look younger. In the ad the five â€Å"Age Rewind† products are lined up left to right, starting with the â€Å"Finishing Powder†, then the â€Å"Skin Transforming Primer†, â€Å"The Eraser†, â€Å"Radiant Firming Makeup†, and ending with the â€Å"Conceal†. Just by reading the names of the products, you already have a slight perception of what the product is suppose to do. The â€Å"Skin Transforming Primer† is supposed to hide every blemish, wrinkle, and age spot while making the customer look younger. The Eraser† is supposed to ‘erase’ all of the blemishes hopefully permanently, and the â€Å"Radiant Firming Makeupâ €  is supposed to firm the consumers face while giving it a radiant glow. Whether these products do this or not, the titles themselves is enough to sell to people who want to look younger. All of these products are either packaged in glass or plastic, with a burgundy colored plastic lid, top, or cover. The burgundy color helps attract the attention of possible customers, while standing out from the rest of the cosmetic products, which are normally red, yellow, or purple.Burgundy is a more mature color than most of the other color choices, which will help in attracting the older generation of women. Maybelline’s â€Å"Instant Age Rewind† products are aimed at the older generation of women who want to reverse time and look younger. The Anti-aging products are aimed at women in their late 30s and beyond. The ad will not fit in with the Seventeen magazine, which is aimed at women in their late teens to early twenties. Seventeen’s readers are more worried about hi ding pimples rather than turning back the wrinkles they don’t have. Therefore this will not be a product they’re interested in.

The Death Penalty Is Unconstitutional - 1758 Words

1. What year and in what case did the US Supreme Court decide that the administration of the death penalty was unconstitutional? Provide a compelling statement form the opinion in this case. 1972, Furman v. Georgia. The opinion said, â€Å"[t]he Court holds that the imposition and carrying out of the death penalty in these cases constitute cruel and unusual punishment in violation of the Eighth and Fourteenth Amendments.† 2. Highlight three procedural facts related to the death penalty outlined by Bedau in the second essay. The Supreme Court ruled that the mandatory death penalty was unconstitutional in 1976. By the 1950s, it was not uncommon for both state and federal appellate courts to review a defendant’s capital conviction. In recent†¦show more content†¦In other words, the government should minimize suffering. Therefore, the Minimum Invasion argument would stand against the use death penalty. Opponents of this argument claim that sometimes things are not equal and the criminal may deserve more than a minimal punishment, deserving, in fact, the death penalty. 8. Provide an argument for retribution and one against (citing the essayist for each side from the text). Louis P. Pojman provides an argument for retribution as he states, â€Å"The moral justification of punishment is not vengeance, but desert. Vengeance signifies inflicting harm on the offender out of anger because of what he has done. Retribution is the rationally supported theory that the criminal deserves a punishment fitting the gravity of his crime† (p. 57). Therefore, retribution is not based on hatred for the criminal, but is the belief that the criminal deserves to be punished in proportion to his crime, whether or not the victim or anyone else desires it. Retribution, as explained by Louis Pojman, supports the death penalty as it proposes that those who have taken a life deserve to lose their own life. Hugo Adam Bedau provides an argument against retribution as he states, â€Å"Retribution does not yield a coherent and comprehensive system of punishment† (p. 42). Beau argues that the principle by itself does not provide a defense for the death penalty; it is fully satisfied by a lesserShow MoreRelatedCapital Punishment Of The United States961 Words   |  4 Pagescrimes are subject to facing the death penalty. Pickens shares, â€Å"Capital crimes are considered to be treason or terrorist attacks against the government, crimes against property when life is threatened, and crimes against a person that may include murder, assault, and robbery.† Dating back to 1608, the execution of George Kendall is believed to be one of the first recorded cases of capital punishment in the United States (Pickens). 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