| 释义 |
power to manage
The power to direct the affairs of a company, particularly as this is distributed between the general meeting and the board of directors. The distribution of power is usually made clear in the company’s constitution; for example, the model articles of association contained in schedule 1–3 of the Companies (Model Articles) Regulations 2008 provide that (subject to a limited number of exceptions) there is a wide power of management vested with the board of directors. At common law, however, the general meeting can exercise a residual power to act where the board of directors is unable to do so (Barron v Potter [1914] 1 Ch 595). |