publication . Article . 2003

Promoter And Duties And Responsibilities Of Promoters In English Company Law

Neval Okan;
Open Access
  • Published: 01 Jan 2003
Abstract
Any person who does an act with reference to the formation of a company or in aid of its organization whether he has the intention to be a partners or not is a promoter. No statuory definition of promoter is given in English company law; definition is given in case law. Promoters stand in a fiduciary relation to the proposed company. Apromoter is not an agent for the company which he is forming because a company cannot have an agent before it comes into existence. The fiduciary duty is owed to the company. The fiduciary duty requires that he deal good faith; it requires that he make full disclosure of all profits he acquires on promotion; especially where the pr...
Subjects
free text keywords: Promoter, Promotion, Company., jel:K22, jel:K12
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