Explain which of a director's statutory duties Jeremy may have breached.
Jeremy has not disclosed either his interest in FD Ltd or his interest in this particular contract. Under s 177 of the Companies Act the interest should have been stated at the board meeting that Jeremy attended which approved the contract. It was not. It should also have been declared under s 182 of the Companies Act once it had occurred – but it was not either. He will, therefore, have to account to KL Ltd for any profit that he makes on the transaction and he may also be subject to a fine. Had he dealt honestly with KL Ltd by declaring his interest and obtaining company approval, he would have been permitted to retain any profit which is made.
多做几道
State whether Ian has any liability for money laundering
State whether Jet has any liability for money laundering
【论述题】
State whether Vic has any right to claim for the increase in share price that he missed out on when he sold his shares
Explain any criminal offences Sid may have committed
【论述题】
State what is meant by securities being 'price sensitive' in the context of insider dealing
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