Corporate Law Assignment-

Task:

An ongoing focus of corporate governance is the role of independent directors on company boards. Discuss the expectation of the Corporate Governance Council that the majority of directors on the boards of ASX, ASIC & CAMAC companies should be independent. (500 words)

In your discussion you should identify the arguments for and against the view that boards should consist of a majority of independent directors, and include a response to the following:

• In whose interest must a director act? (100 words)

• What is the primary role of a board of directors? (200 words)

• What does the term 'independent director' mean? Give an example of a non-independent director. (200 words)

• What legal strategies are available under Australian law to manage the independence of a board's decision making? Eg. Identify sections within the Corporations Act, or common law requirements (200 words)

• Should specific board positions be held by independent directors (eg Chairman). If so, why? If not, why not? (200 words)

• Should better corporate governance, rather than better corporate performance, be the goal of the board? (200 words)

• What is the relevance of the disclosure requirement in ASX Listing Rule 4.10.3? (200 words)

• How is Principle 2 - and recommendations - of the ASX's Corporate Governance Council's ‘Corporate Governance Principles and Recommendations' relevant? (200 words)

Words - 2000

Reference - 8 APA style

Need in assignment - case law, sections, Act.