Corporate Social Responsibility: DIRECTORS' DUTIES & ENFORCEMENT

Corporate Social Responsibility: DIRECTORS' DUTIES & ENFORCEMENT: "DIRECTORS' DUTIES & ENFORCEMENT" “The proper governance of companies would become as important to the economy as th...

DIRECTORS' DUTIES & ENFORCEMENT

"DIRECTORS' DUTIES & ENFORCEMENT"

“The proper governance of companies would become as important to the economy as the proper governance of countries”.  James Wolfensohn, President of World Bank 1995

The directors constitute the board described by Denning LJ as the brain and hand with which the company acts. Decisions as to the running of the company are made by the board. One of them, the managing director is the chief executive of the company, who is empowered through the articles to carry out the functions of a chief executive which is largely implementing the policies of the Board. The managing Director is not necessarily an agent but performs the functions of an agent.

 INTRODUCTION   

   　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　        

The Company Law Series is based on the provisions of Companies and Allies Matters Decree 1 of 1990, as amended.　 This part is entitled

 "DIRECTORS' DUTIES & ENFORCEMENT".

This book was first authored by Barr. Iyke Ozemena in 2010 having lost  huge sums of money in various currencies involved in online trading during the 2008 global economic meltdown.  Corporate leaders (directors) were specifically responsible for the losses.  Since after economic recovery and writing of the book, no doubt in a fast changing world, especially digital innovations have gone viral and exponential. Besides “internet of things” technology is just around the corner with driver-less cars already on the road, therefore the revision of this book became necessary.  He authored many other books available at: https://www.amazon.com/author/iykeozemena

He is experienced online trader at the New York Stock Exchange as well as Nigerian Stock Exchange for several years and those experiences enriched the book.  While doing all those he was/is columnist in various magazines and newspapers with enormous literary contributions including recent ones to be found at: https://www.thenigerianvoice.com/author/IykeOzemena  and  http://corporateleadersboard.blogspot.com.ng/

The author welcomes contacts on social media thus:  https://web.facebook.com/corporateboard.corporateboard, while his twitter handle is: https://twitter.com/cpurecord

This abridged approach is to provide quick reference to the relevant sections of law as they affect directors’ duties and enforcement. Where possible, case laws are used to illustrate and graphically explain  the implications of the various principles and provisions of the laws postulated.

The reader would also find abundant examples of breaches of the statutory duties and their requisite sanctions; ranging from fine, rescission, restitution to removal from office. In this revision critical questions were raised as to the adequacy or otherwise of the sanctions and suggested alternatives.

It is compiled with Corporate Attorneys, Solicitors, Company Secretaries, Law Students, Directors of Public and Limited liability companies, as well as Stockbrokers and Stock Exchanges in mind. Those writing professional examinations in which company law is one of the subjects would find the book of great assistance.

Shareholders and those conversant with Annual General Meetings of public companies would find a lot of explanations, procedural guide and support, especially the introduction of digitalized dividend payment systems. 

　

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 ACKNOWLEDGEMENT

This book would be incomplete without the acknowledgement of Mr David Commodore M.B.C.S. (London) who took the computer consultancy and typesetting. 

You can find more resources from Iyke Ozemena's books at:

www.corporateleadersboard.blog.com
www.facebook.com/corporateboard

amazon.com/iyke ozemena books
http://www.amazon.com/dp/B0075RXXLE    COMPANY SECRETARIES HANDBOOK
http://www.amazon.com/dp/B005783S6S      DIRECTORShttp://www.amazon.com/dp/B005MKCESY    MEETINGS: Dynamics and Legality 

ABOUT THE AUTHOR:

Iyke Ozemena, Corporate Attorney/Consultant

I am the principal partner at Ikechukwu O. Odoemelam & Co, legal practitioners of the Supreme Court of Nigeria. After obtaining a bachelor’s degree from the University of London in 1985, I proceeded to the Nigerian Law School for the mandatory one year training culminating in my call to the Bar in 1986.

EDUCATION

University of London

LL.B

1985

Nigerian Law School

BL

1986

Diploma Business Administration/ICSA

EXPERIENCE     -    PRACTICE SPECIALIZATION

Intellectual property Law, Constitution and Human Rights Law, Property/Real Estate Law, Business and Maritime Law, Finance and Project Development Law, Immigration and Corporate Law, ADR, Skills Acquisition & Empowerment Coach, Corporate Governance and Policy Analyst/Consultants