- 20 Marks
BCL – L1 – Q78 – Company Meetings
Explain formalities and procedures for company meetings and resolutions.
Question
(a). Explain the formalities and procedures involved in conducting meetings resolutions regarding a company.
(b). Kofi Amoah is a respected head pastor of the Universal Grace Church, with impeccable pastoral and educational credentials. He holds sway when it comes to teachings on corporate transformation and generational thinking. The promoters of Unity Bank were delighted to make him the Board chairman of Unity Bank despite little knowledge and experience in banking. The first three years saw tremendous growth of the bank with profit increasing at 65% per annum. The shareholders trusted the Directors led by the ‘man of God’ to manage the bank in a ‘divine fashion’. A new Governor of the Central Bank of Asanteland has been appointed with a mandate to clean the banking sector. The man of God is nervous with regards to his job with the rapid expansion of the bank and fears he could be declared not ‘fit and proper’ to be the board chair of Unity Bank by the Governor.
Advise Pastor Kofi Amoah regarding his fiduciary responsibilities and liabilities, if any.
Find Related Questions by Tags, levels, etc.
- Tags: Banking Regulation, Corporate Governance, Directors, Fiduciary Duties
- Level: Level 1
- Topic: Fiduciary Responsibilities
