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4 Cards in this Set
- Front
- Back
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Definition |
"By whatever name called". Can be a director w/o being directly called one. A "de jure" director is formally appointed. Opposite of a de facto director, who hasn't been formally appointed. |
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Shadow Director |
Individuals who are deliberately avoiding being appointed director but on who's instructions the directors act. If she's a professional person giving professional advice(accountant, solicitor), doesn't make her a shadow director. Difference is that a shadow director pulls the strings while avoiding the title of director, de facto director acts as a director just wasn't officially titled.Can have provisions of the Act imposed upon them. |
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Executive director |
Involved in the day-to-day management of the company. Often full-time employees. Non-executive are generally specialised in one area, consulted when advice wanted in it. Often courts would take this into account. |
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Appointment |
-No qualification needed. But must be a natural person. -Can't be a minor. -One of the directors must be living in the EEA. -Can't be a director of >25 companies. -First directors appointed by subscribers to constitution |
