BLAW20001 Lecture Notes - Lecture 15: Public Company, Cadence Skill, Best Interests

• School: University of Melbourne
• Department: Business Law
• Course: BLAW20001
• Professor: All

Document Summary

Removal of auditor - asic consent required s 329. Removal of directors by ordinary resolution s 203c [rr] s 203d mandatory. May have a secretary but not required s 204a(1) Casual vacancy power of director casual appointment must be voted on within 2 months. Casual appointment must be voted on at the next agm. Unlisted co - by a single director s. Listed co - by a single director s. Unlisted co - 21 days s 249h(1) unlisted co - 21 days s 249h(1) Care, skill and diligence: reasonable care - to a degree that a. Good faith and proper purpose: best interests of the company. Corporate groups s 187: proper purpose howard smith. Must not use position to gain personal advantage/cause detriment to company. General law remedies - civil remedies e. g. damages. Directors must not use position to gain personal advantage/cause detriment to co.