Glossary entry (derived from question below)
English term or phrase:
to authorise conflict of interests
Lithuanian translation:
aprobuoti/sankcionuoti interesų konfliktą
Added to glossary by
Rasa Didžiulienė
Aug 3, 2022 10:15
2 yrs ago
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English term
to authorise conflict of interests
English to Lithuanian
Bus/Financial
Law: Contract(s)
In many instances, a directors conflict of interest can be authorised by the directors by way a majority vote. Needless to say, however, only those directors who are not themselves interested in the matter are permitted to vote.
[...] even non-conflicted directors are not permitted to directly authorise a third party benefit and so may instead require shareholders approval.
[...] shareholders can pre-authorise a conflict situation by what’s known as an ordinary resolution, ie; more than 50% support from those shareholders voting. A director who is also a shareholder can participate in the vote, even if he is one of the directors interested in the matter being authorised.
[...] even non-conflicted directors are not permitted to directly authorise a third party benefit and so may instead require shareholders approval.
[...] shareholders can pre-authorise a conflict situation by what’s known as an ordinary resolution, ie; more than 50% support from those shareholders voting. A director who is also a shareholder can participate in the vote, even if he is one of the directors interested in the matter being authorised.
Proposed translations
(Lithuanian)
4 | aprobuoti/sankcionuoti interesų konfliktą | Rita Vaicekonyte |
Proposed translations
14 mins
Selected
aprobuoti/sankcionuoti interesų konfliktą
Turima omenyje, kad įmonės įstatuose iš anksto numatomas toks rūpestingumo principo taikymo būdas ir pripažįstama tokios situacijos kilimo galimybė. Jei kyla interesų konfliktas, yra numatomas jo aprobavimo (sprendimo/patvirtinimo) būdas, t. y., asmens, kuriam tas konfliktas kyla, pašalinimas iš aktualaus balsavimo.
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