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KembaraXtra – Legal Terms – Power to Manage
The power to manage refers to the authority to direct and control the affairs of a company.
This power is usually divided between the board of directors and the general meeting of shareholders.
A company’s constitution commonly determines how managerial authority is allocated.
Under standard model articles, most management powers are vested in the directors.
However, shareholders may exercise residual powers where the directors are unable to act.
The power to manage refers to the authority to direct and control the affairs of a company.
This power is usually divided between the board of directors and the general meeting of shareholders.
A company’s constitution commonly determines how managerial authority is allocated.
Under standard model articles, most management powers are vested in the directors.
However, shareholders may exercise residual powers where the directors are unable to act.
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