Corporate Governance 1 Flashcards
1
Q
What is the role of a director ?
A
Providing leadership
Setting strategic aims
Reviewing performance of managements
Ensuring obligations to shareholders are met
2
Q
What’s the responsibilities of a director
A
To act in good faith
Exercise powers for proper purpose
Exercise due care and skill
3
Q
What does an Ned need to be independent (provision 10)
A
Has not been an employee of the company for the last 5 years
Hasn’t had a business relationship with the company for the past 3 years (either directly or as a partner, shareholder etc)
Received additional remuneration from the company or participates
Has close family ties
Holds cross director ship
Has served on the board for more than 9 years
