The Directors duty and effects of Benefits from Third Parties

The Directors duty and effects of Benefits from Third Parties

The post is a combination of two assighnments

1 The Duty of Directors not to Accept Benefits from Third Parties

2 how we commit our selves to armed multitudes

The Directors duty and effects of Benefits from Third Parties

. READ THE SUBMISSION BLOW AND: • Ask probing question. • Share an insight from having read the Submission • Offer and support an opinion. • Validate an idea with your own experience. • Make a suggestion. • Expand on the submission

SUBMISSION:

The Duty of Directors not to Accept Benefits from Third Parties
Introduction
The duty of directors not to accept benefits from third parties is well espoused in the Company’s Act of 2006 and also in the Bribery Act which came to effect in 2011. These two documents attempt to prevent directors of companies from receiving bribes which may hamper the performance of the company or may disadvantage other stakeholders within the company1. The 2006 act, in particular, thus states that any person who happen to be a director in a company in the United Kingdom or is acting as one, should not receive any benefit on the account of them being directors. The act continues to say they should also not receive any benefits if they are meant to prevent them from acting in a certain way, or persuade them from taking a particular action that may favor the parties that are giving out the bribe. This duty is codified in the company’s act of 2006 in chapter 10, section 176, and its provisions reinforced in the bribery act of 20112.

This duty under the 2006 act must be read in conjunction with other duties that are also explicitly stated in the act. This is because when a director takes a bribe from a third party then they can be said to be acting in a manner that undermines the success of the company3. In doing this, they thus contravene their duty to promote the success of the organization4. Also receiving benefits from a third party in other instances can lead to directors’ judgments being influenced. This thus breaches their duty of acting independently, which they are supposed to uphold. These two duties are also provided in the company’s act of 2006 at sections 172 and 173 respectively5.

Limitations of the duty

There are limitations to this duty that are supposed to guide its application. One of the imitations is the requirement that for this rule to apply, the benefit in question must lead to either a conflict of interest or a conflict or duty. Secondly, this rule is limited to the fact that it may only apply when the benefit in question supersedes the threshold set out in the articles of association of the company under consideration. This rule is also limited to the fact that there are no clearly defined minim is thresholds of the benefits under the acts6.

Consequences of Breaking this Duty

When a director breaks this duty, they are liable to the punishments outlined in section 1787. This is because all the duties must be respected and if they are breached the director breaching them must be liable for any profits they may have made or the losses that the company they serve suffered. They can also very easily lose their position of directorship in the company by having the contract that they have with the company terminated. Receiving benefits from a third party is also punishable in the same way as provided for in the Bribery act of 20118.

Conclusion

In conclusion, I also want to state that I support these provisions given that they help safeguard the interest of corporations and by extension those of shareholders. Although the provisions are not conclusive given that the act does not define the word benefits. Future improvements could help make the law more effective. It is thus important that the necessary are effected to ensure that this duty is clear to the directors.

2 how we commit our selves to armed multitudes

Text: My loving people We have been persuaded by some that are careful of our safety, to take heed how we commit our selves to armed multitudes, for fear of treachery; but I assure you I do not desire to live to distrust my faithful and loving people. Let tyrants fear. I have always so behaved myself that, under God, I have placed my chiefest strength and safeguard in the loyal hearts and good-will of my subjects; and therefore I am come amongst you, as you see, at this time, not for my recreation and disport, but being resolved, in the midst and heat of the battle, to live and die amongst you all; to lay down for my God, and for my kingdom, and my people, my honour and my blood, even in the dust. I know I have the body of a weak, feeble woman; but I have the heart and stomach of a king, and of a king of England too, and think foul scorn that Parma or Spain, or any prince of Europe, should dare to invade the borders of my realm; to which rather than any dishonour shall grow by me, I myself will take up arms, I myself will be your general, judge, and rewarder of every one of your virtues in the field. I know already, for your forwardness you have deserved rewards and crowns; and We do assure you on a word of a prince, they shall be duly paid. In the mean time, my lieutenant general shall be in my stead, than whom never prince commanded a more noble or worthy subject; not doubting but by your obedience to my general, by your concord in the camp, and your valour in the field, we shall shortly have a famous victory over these enemies of my God, of my kingdom, and of my people. Questions#1: In the third paragraph of her speech why does Elizabeth say ?Let tyrants fear?? How does this statement support her purpose for the speech? Use evidence and quotes to support your answer and use the annotation tool to explain her purpose. Question#2: Why does Elizabeth call out her gender in paragraph 4 of the speech? What purpose does it serve? use evidence and quotes from the text to support your answer and write annotations to support and explain your ideas. Question#3: What qualities does Elizabeth praise her soldiers for having? How will those qualities bring victory for the English army? What rhetorical device does Elizabeth use in praising her soldiers? Use evidence and quotes from the text to answer the questions. Questions#4: In the Unit 2 Introduction ? The English Renaissance,? you read that Elizabeth supported the Protestant Reformation. Using this knowledge what purpose do Elizabeth’s invocations of God in the speech serve? What phrase does Elizabeth use with her references to God to strengthen this purpose? Use quotes and evidence and make annotations to explain your choices. Questions#5: Use your understanding of point of view and rhetoric to determine Elizabeth’s overall purpose in this speech. Use evidence and quotes that will help support your idea. Questions#6: Recall the unit’s essential question: How do we express the complexities of being human? What complexities about herself does Elizabeth reveal in the speech? How does discussing these complexities aid her her purpose? Support your response with textual evidence. PLEASE ANSWER EACH QUESTION IN A SEPARATE PARAGRAPH AND EACH MUST BE AT LEAST 5 SENTENCES AND MUST MUST HAVE QUOTES AND EVIDENCE.