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Question One (1) [50 Marks] especially part B of the question a) Set out true/false only to the following statements: (20 Marks) 1. Company-is not juristic person but a natural person under our law (2 Marks) 2. Companies may be subsidiaries of another company (2 marks) 3. A Company can operate without a commencement of business certificate (2 Marks) 4. Director appoints Shareholders in a company. (2 Marks) 5. Company Secretaries prepare meetings of directors and shareholders (2 Marks) 6. Employees are mere workers who have no control over the company (2 Marks) 7. Board of Directors may earn a retainer amount instead of a salary? (2 Marks) 8. AGM stand for Annnual General Meeting? (2 Marks) 9. Directors stand in no fiduciary duties toward a company? (2 Marks) 10. NAMRA is a private company? (2 Marks) FACULTY OF COMMERCE, MANAGEMENT AND LAW OLD CURRICULUM MODULES Page 15 of 15 b) A director is at common law subject to fiduciary duties that requires him or her to exercise his powers bona fide and for the benefit of the company. List and explain the fiduciary duties of a director? In your answer, refer to the relevant section as well as case law (30)

          Question One (1) [50 Marks] especially part B of the question
a) Set out true/false only to the following statements: (20 Marks)
1. Company-is not juristic person but a natural person under our law (2 Marks)
2. Companies may be subsidiaries of another company (2 marks)
3. A Company can operate without a commencement of business certificate (2 Marks)
4. Director appoints Shareholders in a company. (2 Marks) 
5. Company Secretaries prepare meetings of directors and shareholders (2 Marks) 
6. Employees are mere workers who have no control over the company (2 Marks) 
7. Board of Directors may earn a retainer amount instead of a salary? (2 Marks)
8. AGM stand for Annnual General Meeting? (2 Marks)
9. Directors stand in no fiduciary duties toward a company? (2 Marks) 
10. NAMRA is a private company? (2 Marks)
FACULTY OF COMMERCE, MANAGEMENT AND LAW
OLD CURRICULUM MODULES
Page 15 of 15
b) A director is at common law subject to fiduciary duties that requires him or her to exercise his 
powers bona fide and for the benefit of the company. List and explain the fiduciary duties of a 
director? In your answer, refer to the relevant section as well as case law (30)

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