Fast broadband now considered vital by increasing numbers of homebuyers

Fast broadband now considered vital by increasing numbers of homebuyers

Houses without a connection or slow download speeds can be worth up to 20% less, say estate agents

Unfortunately we live in a building where the directors failed to require that Metranet, who relay ultra-fast broadband from our roof, share this bandwidth with the residents by simply multiplexing their feed into the existing coax network. One director defended this decision by claiming he gets 8mps despite our being over 1 mile from the exchange.

via Fast broadband now considered vital by increasing numbers of homebuyers | Technology | The Observer.

Directors Duties In The Uk

The Companies Act 2006 has superseded the Companies Act 1985, although parts of the 1985 Act remain in force until it is repealed in the final implementation order, currently scheduled for 1st October 2009. The Companies Act 2006 contains a statement of directors fiduciary and common law duties. Although the statement sets out directors general duties, with some amendment to the regulation of conflicts of interest, it is expected that they will be interpreted and applied in the same way as the common law and the equitable rules.The codified duties apply to all directors of a company including shadow directors and, in certain circumstances, former directors and are owed to the company and only the company may enforce them. The most significant changes in relation to directors duties from the old common law position are: there is now a statutory requirement for directors to have regard, amongst other things, to a list of factors in exercising their duty of good faith when deciding upon the business and transaction of the company; and it is now permitted for independent directors to authorize a directors conflict of interest where a conflict arises between that director and the company.The seven codified duties in simple terms are as follows :

  • Section 171 to act within their powers
  • Section 172 to promote the success of the company
  • Section 173 to exercise independent judgement
  • section 174 to exercise reasonable care, skill and diligence
  • section 175 to avoid conflict of interests
  • section 176 not to accept benefits from third parties
  • section 177 to declare an interest in a proposed transaction with the company

The Companies Act 2006 introduces a new statutory procedure enabling a shareholder to bring a claim against the directors of the company for negligence, default, breach of duty or breach of trust. There is genuine concern that the codified directors’ duties coupled with the enhanced right to bring derivative claims has increased the exposure of directors to such claims consequentially this may result in more claims been brought against directors in the short term as dissatisfied shareholders (especially in a hostile take over bid) armed with the new statutory right of ‘derivative actions’ would bring test cases.

Read more:
via Directors Duties In The Uk.


SHBL can’t remember their own ballot papers


Mr Coady stated the proxy voting form was different to the other voting form. JL confirmed it was the same voting form as last year.

Unfortunately the form provided, in addition to identifying the voter, provided completely different choices:2012-voting-form

Keybridge House: plans for Peregrine Falcons

Proxy Obligations

According to

19.—(1) Section 341 of the Companies Act 2006 (quoted companies: results of polls to be made available on website) is amended as follows.

(2) In subsection (1), after “quoted company” insert “that is not a traded company”.

(3) After subsection (1) insert—

“(1A) Where a poll is taken at a general meeting of a traded company, the company must ensure that the following information is made available on a website—

(a) the date of the meeting,
(b) the text of the resolution or, as the case may be, a description of the subject matter of the poll,
(c) the number of votes validly cast,
(d) the proportion of the company’s issued share capital (determined at the time at which the right to vote is determined under section 360B(2)) represented by those votes,
(e) the number of votes cast in favour,
(f) the number of votes cast against, and
(g) the number of abstentions (if counted).

(1B) A traded company must comply with subsection (1A) by—

(a)the end of 16 days beginning with the day of the meeting, or
(b)if later, the end of the first working day after the day on which the result of the poll is declared.”.