Skip to main content Accessibility help
×
Hostname: page-component-7bb8b95d7b-wpx69 Total loading time: 0 Render date: 2024-10-05T06:41:19.061Z Has data issue: false hasContentIssue false

3 - Directors’ Duties

Published online by Cambridge University Press:  12 March 2023

Ernest Lim
Affiliation:
National University of Singapore
Get access

Summary

The central argument in this chapter is that the duties to which directors owe the company, specifically the duty to act in good faith in the best interests of the company and the duty to exercise powers for proper purposes, should be aligned with the purpose of social enterprises. In other words, the meaning of company’s interests in the best interest duty and that of proper purpose in the proper purpose rule ought to be equated with the proposed corporate purpose advanced in Chapter 1. To make this argument, I show that the laws governing these two directors’ duties in the four common law Asian jurisdictions and those of UK CICs and US PBCs and SPCs are not aligned with the purpose of social enterprises and I demonstrate why it is important to have this alignment. I also explain how the proper purpose rule can be aligned with my proposed purpose of social enterprise.

Type
Chapter
Information
Social Enterprises in Asia
A New Legal Form
, pp. 79 - 100
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • Directors’ Duties
  • Ernest Lim, National University of Singapore
  • Book: Social Enterprises in Asia
  • Online publication: 12 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781108937313.007
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Directors’ Duties
  • Ernest Lim, National University of Singapore
  • Book: Social Enterprises in Asia
  • Online publication: 12 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781108937313.007
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Directors’ Duties
  • Ernest Lim, National University of Singapore
  • Book: Social Enterprises in Asia
  • Online publication: 12 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781108937313.007
Available formats
×