Directors : Revision

A private company shall have a minimum number of 1 director.

• True

• False

A Singaporean citizen who also lives in Malaysia is qualified to become a director.

• True

• False

There is a maximum age imposed by the Companies Act 2016 for a person to be a director in a company.

• True

• False

An undischarged bankrupt is disqualified to be appointed as a director of a company.

• True

• False

The post of Director will be vacated if he is found to be unsound mind.

• True

• False

When director used power for improper purpose, he is not in breach of director's duty if he believe it would benefit company.

• True

• False

A director may use his lack of experience and knowledge as a defence if he fails to exercise reasonable care, skill, and diligence.

• True

• False

When a director had first negotiated a contract on behalf of the company, he can take the contract for his own if he resigned.

• True

• False

When director made decision which fulfills the condition of Business Judgment Rule, he can still be sued for breach of duty when his decision caused loss to the company.

• True

• False

In exercising his powers and duties, a director may rely on experts' opinion but still has to evaluate the opinion independently using his wisdom.

• True

• False