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Discussion Activity 6.1
1. Why do you think section 137(2)(b) of the BCBCA is necessary and worded the way it is? I believe that section 137(2) of the BCBCA is necessary to prevent any confusion that might arise from overlapping jurisdiction. In the event that powers of the directors were transferred, situations could arise where directors nonetheless claimed […]
Blog Activity 5.3 – Section 33 – Say What?
In my opinion, section 33(2) would seem to increase the scope of potential remedies that a court could consider when faced with a corporation that breached 33(1). Without section 33(2), a court might rush to nullify the actions of a corporation that was in breach of section 33(1). Section 33(2) may give a court pause, […]
4.6 – Adequate Capitalization
In my view a measure of adequate capitalization should be established by industry regulators, and should be flexible to changing institutional norms. When entities shift their practices to take advantage of capitalization requirements (such as taxi owners setting up a particular corporate structure), regulators should be able to quickly modify the capital requirements. This is […]
4.3 – Discussion Activity – Ambiguities of Corporate Personality
My main takeaway from Lee v Lee’s Air Farming is that to determine whether something was a corporate act or an individual act, we should look to in what capacity the individual was acting when they undertook the act. Essentially, this means considering which “hat” an individual was wearing when they undertook the act. Given […]
The Corporation – Thoughts
I thought the movie lacked any mention of the various ways in which corporations are regulated. Many of the examples cited by Bakan, including Monsanto and US companies profiting from the Nazi regime, are examples of cases where regulators have failed to reign in the profit-seeking nature of corporations. I fail to see how this […]