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DIRECTOR - Coggle Diagram
DIRECTOR
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Duties of Director
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s 213 A director of a company shall exercise reasonable care, skill and diligence:
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S 214: A director who makes a business judgment is deemed to meet the requirements of the duty under subsection 213(2) and the equivalent duties under the common law
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s 198 Disqualification
has been convicted offence relating to the promotion, formation or management
Convicted offence involving bribery, fraud and dishonesty
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Convicted offence under Section 213, 217, 218, 228, 539
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S231 Service Contract
Services that a director undertakes personally to perform as director or otherwise are made available by a third party to the public company, or to a subsidiary of the public company
Director undertakes personally or perform services as a director or otherwise for the public company or for a subsidiary of the public company
Type of Director
Executive
Salaried directors who are full-time working directors delegated with managerial or executive powers by the board to carry out the day-to-day management of the company’s business
Non-executive
Do not have executive responsibilities within the company, with their important role to play in bringing independent view in the board’s deliberations.
s 218 Prohibition Against Improper Use of Property, Position, etc.
Directors are prohibited from making secret profits; using corporate information; using his position as director and taking/ using corporate opportunity which is in competition with the company, to gain directly or indirectly a benefit for himself.