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DIRECTORS :check: - Coggle Diagram

- - - - s221 CA 2016 - declares nature of interets in meetings of a contract made
      - s221(9) CA 2016 - interst of connectings ( spouse / child )
      - s221(10) CA201 - the contract can be voidable at the option of company except if i as in favour of a person with no knowledge
      - s221(12) CA2016 not exceed of 5 years of prisonment or fine not exceeding 3 million
      - any breaches would be liable with 5 years of imprisonment and 3million fineunder CA 2016
    - - s222 CA2016 -‘interested ‘ director of public company or subsidary of public company cant have vote rights
      - s234 CA2016 - sole member director of a private company can enter into a contract with the company
    - - directors ficudary duty - s213(1) CA2016
      - directors duty of care and diligence - s213(2)
        = excersice reasonable care,skill,diligence with knowledge skill and experience and any additional knowledge ,skill ,and experience
    - - s214 CA 2016 - a director who makes buisnes judgement are deemed to meet requirements of s213
        
        in good faith
        
        judgement are appropriate under circumstances
        
        does not have material personal interest in judgement
        
        best interest of company
    - - s218 CA 2016 - directors shall not do this things without consent of GM or ratification of GM ust to gain benefits for oneself or other person
        
        use the property of company
        
        use info acuired by virtue of position as director
        
        use position as director
        
        use any oppurtunity of company he/she aware of
        
        engage in buisness which is in competition of company
    - - approval of company required for disposal by directors of company underatking or property
        =propertyof a substantial value
        
        substantial value
        public co = value presribed in provision
        non listed co = value >25% t asset of company,net proffit attributed 25% > than total ne profit , value of ssued share capital >25%
      - transaction invloving shares and non cash assets of requsite value with directors/shh/connected persons
        
        requisite value
        public co = same as value presribed in proision
        non listed co = value >250000, >10% net asset value of co.
      - for issue of shares by director
        
        any shares issued by directors sall be void and cosieration given is recoverable
    - - 216 CA responsibility cannot be delegated but
        authority ( power ) can be delgated to the board commitee