Unit 49, company law and corporate governance, is a significant unit in business for HND learners. This unit is tailored to offer learners are detailed recognition of the legislative framework governing with administration of companies, management, financing and formation. This unit also covers significant concepts that include the company incorporation process, the responsibilities and roles for promoters and the crucial foundation of documents such as articles and memorandum of association. The learners will acquire knowledge regarding the various categories of companies, the issuing share procedures and the obligations and rights of shareholders. To equip them with the practical knowledge for navigating of complexities in the operations of the company.

The crucial focus of the unit is on the right liabilities and roles of directors and the board. In addition, it also features a mechanism for the meetings and administration of the company. Learners identify the legislative duties of various directors that include loyalty, good faith and care duty. Additionally, they need to have potential consequences for breaching various duties. This unit also identifies the process for winding the companies up and company management of a fair in statutory requirements. They need to certify students in recognising the disadvantages and advantages of companies` operations with limited shares.

The next significant part of this unit is regarding the introduction of corporate governance principles. They have to keep focus on the significance of ethical management, accountability and transparency in modern organisations. Learners will identify the various models and theories of corporate governance. They also need to also the significant impact of governance on the director behaviour and practices. Moreover, the internal disclosure and closure significance are also required. By identifying the examples of the real world from international and local companies, the learners will increase their skills in governance issues. In addition, they will get advice for best practices, ultimately to prepare them for a positive contribution to the administration of the company and uphold the good governance standards at the workplace.

Unit Objectives

The main objectives of the Unit 49 Company Law and Corporate Governance in business in HND qualification is demonstrated below.

• To offer learners explicit recognition of the way in which companies are formed with legislation, finance, administration and management. It includes the incorporation procedures and shared issues.
• To generate the knowledge of responsibilities and rights for the directors and shareholders. It makes learners able to recognise the administration of the company and the implications of legislation for their actions.
• To enable learners with the potential to identify the disadvantages and advantages of operations in a business as a limited company share. Moreover, to apply the relevant principles of company law to and situation of practical business situation.
• To recognise the corporate governance principles by helping the learners evaluate good governance practices. Recognising that the duties and behaviours of directors require them to advise the company administration and promote ethical workplace management.

Learning Outcomes

The main learning outcomes of the Unit 49 Company Law and Corporate Governance according to pearson set are demonstrated below.

LO1: Evaluate the nature and legal status of companies.

• Corporate personality concept
• Various categories of legislative status
• A legislative person and potentially liable to be prosecuted or sued
• Properties of various categories of business organisations
• Corporate personality and incorporation, benefits and limitations of incorporation, free incorporation and promoters` commencement and contract for trading
• Constitutions and formation
• Articles of association and memoranda, private, public and community interest campaigns, off-the-shelf purchasing
• Interest companies of the community
• The potential and capability of the company to doctrine and contract ultra powers.

LO2: Assess the importance of meetings and resolutions in corporate management.

• Management of corporate
• The corporate management definition, function and division for corporate management
• Directors board, retirement, appointment, removal and disqualification of directors and their duties and power in office hours.
• Personal liabilities of directors
• Duties and powers, qualifications of the secretary company
• Shareholder rights with the company board
• Administration of the company
• Procedures and rules, on various categories of meetings such as meetings of the board, EGM and AGM
• Resolutions of the company and the optimisation of multiple categories of resolutions, attachment of rights to various categories of purpose and shares with procedures to share issues.
• The issuing share procedure, dividends and class rights
• Record keeping and audits.

LO3: Analyse the process of raising and maintaining capital for a company.

• Increasing the share of capital:
• The share nature, various rights, capital depth categories and equity, subscription of public, share issues, capital authorities, rights of pre-emption, and share payments.
• Share capital maintenance:
• Minimisation of capital
• General rule
• Procedure
• Directors’ duties
• Own share purchase
• Financial help through the acquisition company for its own shares
• Restriction statutory
• Profit distribution
• Loan capital:
• Trust deed debenture, debenture nature, comparison of debenture and share, floating charges and fixed charges, charges of registration, remedies of debenture holders.

LO4: Evaluate the role and impact of corporate governance in the management of companies.

• Corporate governance character:
• Corporate governance definition
• Corporate governance history, international need, case of Enron, governance interaction with ethics of Business and company law
• Influence of corporate governance:
• Corporate governance code
• Requirement of corporate governance
• Impact of corporate governance on the behaviour of directors in the performance of their duties and skills.
• Multiple structures with broadness, character of governance issue on board, policies and procedures and categories leading towards appropriate practice, needs under the law of company for framework governance within companies.
• Policies and interest in conflict, for example, data protection, compliance, regulations, bribery
• Rules emphasised on principle approach
• Corporate liquidations and rescue
• Corporate rescue with rational, administrator character, winding up voluntarily, winding up creditors, functions and duties of a liquidator, surplus assets distribution, and dissolution.

Assessment Criteria

The main association of the Unit 49 Company Law and Corporate Governance is with its learning outcomes such as.

LO1: Evaluate the nature and legal status of companies.

• 1.1 Assess the meaning of corporate personality and the procedure of forming a company for both private and public limited companies.
• 1.2 Compare and contrast a private limited liability company with a public limited liability company to evaluate advantages and disadvantages.
• 1.3 Provide a critical evaluation of how private and public limited companies are administered, financed and managed with evidence drawn from local and international case law and judgment.

LO2: Assess the importance of meetings and resolutions in corporate management.

• 2.1 Examine the status of directors and their involvement in the management of a company.
• 2.2 Using examples, illustrate the procedure relating to company meetings and resolutions.
• 2.3 Evaluate the statutory requirement of directors’ duties and their liability to a company’s creditors.

LO3: Analyse the process of raising and maintaining capital for a company.

• 3.1 Analyse the rules on raising and maintaining capital for a limited liability company.
• 3.2 Critically analyse the law on issues of shares, dividends and insider dealing.

LO4: Evaluate the role and impact of corporate governance in the management of companies.

• 4.1 Evaluate the principles of corporate governance in the management of corporations.
• 4.2 Recommend duties of directors in complying with the principles of governance in the management of the corporation.
• 4.3 Critically evaluate the role of a board in corporate governance issues and the different approaches taken.
• 4.4 Critically evaluate the types of policies and procedures of best practice to make valid and justified recommendations for improving corporate governance.

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