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Ahamed, K.M.U., 2024. The constitution and enforcement of director duties in Bangladesh and the United Kingdom: a comparative study. PhD, Nottingham Trent University.
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Abstract
Directors' duties of loyalty and care, as well as the enforcement of these requirements through derivative lawsuits, are significant aspects of the corporate legal system. These controls and accountability measures are put in place to make sure directors are held to a high standard of responsibility and oversight when running a business. To identify problems with the Bangladeshi law governing directors' duties to act sensibly, honestly, and in the best interests of the company as a whole while avoiding conflicts of interest, the comparative legal technique was employed in this study.
This study aims offer a critical analysis of Bangladeshi law governing directors' responsibilities within its unique social and historical context and to make reform recommendations. This study assesses the conciseness, clarity, and accessibility of Bangladeshi legislation, and it exposes the problems that are present in it. The baseline for this evaluation is the corporate law of the United Kingdom. For the purpose of laying the framework for legal reform in Bangladesh, an investigation into the practicability of importing certain legal principles and norms from the corporate law of the United Kingdom to its equivalent in Bangladesh is being carried out. In Bangladesh, the Companies Act of 1994 is the primary piece of legislation governing a company, which underwent two revisions in 2020, is argued to have fundamental flaws in Bangladeshi law regarding directors' duties of care and derivative proceedings. Although the 2018 Corporate Governance Code has addressed several difficulties that are associated with the duty of directors, there is still an area for further improvement. The need for legal reform is necessitated by the ambiguity surrounding directors' obligations and enforcement of the law. Alternative measures would not sufficiently secure the accountability of directors, according to the Bangladeshi context's limitations on other legal and extra-legal accountability mechanisms.
The study looks at the feasibility of change by legal transplanting and concludes that the UK legal model can only be effectively transferred if it can be modified to work in Bangladesh's institutional and legal framework. This is important to make sure that the new environment of the host nation would accept new laws appropriately. The majority of UK legal models and standards are exportable, it may be inferred. The primary source of guidance for the research has been a policy that advocates for finding a balance between the need to safeguard directors' use of their management power and the need to strengthen directors' responsibility.
| Item Type: | Thesis | ||||||||||||
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| Creators: | Ahamed, K.M.U. | ||||||||||||
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| Date: | January 2024 | ||||||||||||
| Rights: | This thesis is owned and written by Kazi Mokhles Uddin Ahamed. For private use, study or non-commercial research, you can copy up to 5 percent of this research. It should be completely referenced, citing the author, title and University, using any data from this work. Any other copy is required, prior requested and queries should be sent directly to the owner for Copyright | ||||||||||||
| Divisions: | Schools > Nottingham Law School | ||||||||||||
| Record created by: | Laura Ward | ||||||||||||
| Date Added: | 30 Jul 2024 10:55 | ||||||||||||
| Last Modified: | 30 Jul 2024 10:55 | ||||||||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/51843 |
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