What are the powers and duties of directors of a limited company? How are these defined and limited?

Question

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How are these duties defined and limited?

Answer 1

You need to really research this and what I tell you could be wrong.

A "limited" company is often a "limited liability" company. In short it's done as a protectiong things.

Your family owns a small business and they want to protect their home and savings from business problems so they formed a "limited" company and that company "limits" their liablities to JUST the company, unless, of course, people can PROVE they syphoned off money to buy a house or a car. Then that "limited" status becomes illegal.

But if the company goes under, no one can touch the home, the car, the savings. Only the assets of the company.

As for the directors, they have whatever powers they assign themselves.

Limited companies are often done for things like Law Firms, Medical Groups and small businesses.

If you don't form a "limited" company, then you are a sole propertorship or a partnership and ALL the assests of ALL the people involved can be seized.

Even in a BIG company, like ENRON, this can happen when you can PROVE the big guys did SHADEY things!

A "limited" company is not a shelter for illegal activites. It is a shelter for the owners should BUSINESS go sour.

The bottom falls out of your business from NO FAULT OF YOUR OWN, ONLY the business is in trouble, not the owners.

Answer 2

by Limited Company I assume you mean a Limited Liability Company LLC...Oh Ltd. it's another form of incorporation, well it has the same duties as any other CEO. To maximize shareholder value, pay attention to the company, be answerable to the board of directors, responsible to the community in which it operates. Not to self deal, uphold fiduciary duties. the forms Ltd or LLC only indicate how much seperation there is between shareholders and how much liability they each have if something goes wrong.

Answer 3

no person is involved in working with limits and rules and consequently concentration of cricket specialists and different some activities specialists is on the making a residing immediately. In India cricket is the only sport for which Indians are loopy and prefer to alter the organic sport via interacting with the pros.