Shareholders Agreement Companies Act

While a director is entitled to all information relating to the company`s activities because of his duties as a director, he will subordinate this information to his fiduciary obligations, which involve the obligation not to use this information to the detriment of the company. In addition, under the law, a non-director shareholder has very limited rights to obtain information that, to simplify, do not receive much more than a right to Dener, which must be submitted to the general meeting for approval. It is therefore important, especially for minority shareholders, to open up a right to information about commercial activity. This can be formulated either as a right to receive specific information (for example. B monthly/quarterly administrative accounts, cash flow forecasts, annual budgets, etc.), or as a broader right to receive information about the behaviour of companies that such a shareholder can reasonably demand. In some cases, particularly where the minority shareholder is an investor, when a shareholder is not informed, he may have the right to enter the company`s commercial premises, obtain and copy records, interview employees and appoint consultants on his behalf to investigate and report on the company`s conduct. A controlling shareholder has a fundamental power over a company: it is the power to hire and dismiss the directors of the company. Since it is the directors who are responsible for running the business, this gives the person (or those who hold 50.1% of the vote) the opportunity to control the business. Therefore, if the majority shareholders at 50.1% believe that the directors are not active, the director (s) concerned (s) can be deducted. As I mentioned earlier, a shareholders` pact can be used to unite the parties to the agreement in a class other than that of a shareholder. It is often noted that part of a shareholder contract is a director and a shareholder.

In these circumstances, it should be kept in mind that a director has an imperative obligation to act in the best interests of the company and that he cannot fulfil his obligations in this matter. This point must be taken into account when part of a shareholder contract is a shareholder and is or will also be a director. In the previous Corporate Act, a company regulated its relationships within the company with two types of documents. The first was the company`s statutes, as represented in the statutes and statutes. The second document is its shareholders` pact. The Constitution is a contract between the company and its shareholders, while the shareholder agreement describes the relationship between the shareholders. The shareholders` pact is an important document for the company, as it should contain provisions that would repeal the company`s by-law and govern relations between the company`s shareholders. To answer this question, you need to consider the nature of the ME in relation to a shareholder pact. It is customary to note that individual promoters of a company may hold in their personal names certain valuable rights that are used by the company (for example.B.

rights to the source code or other IPs, domain names, trademarks, etc.). It is common for proponents to have done a significant amount of preliminary work prior to the creation or start of the trade, and proponents may, with the best of intentions, have acquired such valuable rights in their own name in order to transfer them to the business, but cannot reach the business.

Non classé