ABSTRACT
With a succinct summary of the various architectural features backed by authoritative and highly recognized commentaries, this paper attempts to clearly illustrate the fundamentals of UK company law as seen through the prism of the ‘Shareholder Primacy’ principle. This allows the doctrinal or legal argument to be made with clarity. This paper debunks the existence of the Shareholder Primacy principle within the UK company law architecture. With this view, it examines the viability of the doctrine through the lenses of Agency Theory and provisions related to remuneration and the duties of the directors towards the company and its shareholders.
On the surface, the importance of shareholder interests in UK company law architecture appears to be well-established and steady. However, upon closer examination, this façade appears to conceal a relatively recent intellectual and doctrinal confusion over core underlying issues. With the variety of corporate governance in mind, this article attempts to illustrate the early stages of the director’s responsibilities as they were recently codified in the UK Company law framework.
Farque, Omar and Mahmud, Sayed Arif, The Trajectory of the Shareholder Primacy within the UK Company Law Architecture (December 14, 2021).
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