The authorising of directors’ conflicts of interests : getting a balance?

Keay, Andrew 2012, The authorising of directors’ conflicts of interests : getting a balance?, Journal of corporate law studies, vol. 12, pp. 129-162, doi: 10.5235/147359712800129876.

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Title The authorising of directors’ conflicts of interests : getting a balance?
Author(s) Keay, AndrewORCID iD for Keay, Andrew
Journal name Journal of corporate law studies
Volume number 12
Start page 129
End page 162
Total pages 34
Publisher Taylor & Francis
Place of publication Abingdon, Eng.
Publication date 2012-04
ISSN 1473-5970
Summary Traditionally, courts have been concerned that fiduciaries do not place themselves in positions of conflict where their interests conflict with those for whom they should be acting, and to whom they owe duties. This concern led to the no-conflict rule, which has been applied to directors of companies for many years. The rule has been applied strictly by the courts, and any directors wanting relief from the rule have had to obtain the consent of their shareholders. Section 175 of the Companies Act 2006 now permits the board of directors to approve of a conflict. This article examines the authorisation process in section 175 that permits boards to authorise a director's conflict. The primary aims of the article are to assess whether the issues and concerns that can be identified in relation to this process are substantive and to examine whether there are any alternatives to it which could provide a fairer and better option. After undertaking this analysis, the article concludes that the present authorisation process should be retained, but with some modifications.
Language eng
DOI 10.5235/147359712800129876
Field of Research 1801 Law
Socio Economic Objective 0 Not Applicable
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2012, Informa UK Limited
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Document type: Journal Article
Collections: Faculty of Business and Law
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