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DIRECTOR - Coggle Diagram
DIRECTOR
Disqualification
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Convicted of an offence relate to the promotion, formation or management of a corporation
Convicted of an offence involving bribery, fraud or dishonesty
Convicted of an offence under S213, 217, 218, 228 and 539
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S.218 Prohibition against improper use of property, position etc
Director/Officer : shall not, without the consent or ratification of a general meeting
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Use any opportunity of the company which he became
aware of, in the performance of his functions
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Director/Officer who violates this section may be convicted and imprisoned for a term not exceeding 5 years or a fine not exceeding RM3million or both
Type of director
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Executive
Salaried, full-time working, day to day management
Duties of director
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S.214
Those who makes a business judgement is deemed to meet the requirements of the duty under subsection 213(2) and the equivalent duties under the common law and in equity if the director:
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is informed about the subject matter of the business judgement to the extent the director reasonably believes to be appropriate under the circumstances
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S.217
A nominee director shall act in the best interest of the company and in the event of any conflict between his duty to act in the best interest of the company and his duty to his nominator; he shall not subordinate his duty to act in the best interest of the company to his nominator
S.213
Exercise their power for a proper purpose and in good faith at all times in the best interest of the company
Service contract
referred to any contract where director undertakes personally, or through a third party, to perform services for public company or its subsidiaries
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Public companies must keep a copy of their directors' service contract at their registered office for at least a year after the contract ends
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