Project Management Institute Code of Ethics and Professional Conduct CHAPTER 1. 1.1 VISION AND APPLICABILITY Vision and Purpose As practitioners of project management, we are committed to doing what is right and honorable. We set high standards for ourselves and we aspire to meet these standards in all aspects of our lives—at work, at home, and in service to our profession. This Code of Ethics and Professional Conduct describes the expectations that we have of ourselves and our fellow
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DUTIES TO CLIENT Fiduciary Duty Attorney Must place the client’s interests above their own for representation and must treat the client fairly. Duty of Loyalty Attorney must pursue clients objectives unfettered by conflicting responsibilities or interests Duty of Diligence Attorney must pursue clients interests without undue delay Duty of Competence Attorney must give client competent representation legal knowledge, skill thoroughness and preparation Duty of Confidentiality from
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A and Part B, includes three tasks in total. In Part A it will discuss the feature of a fiduciary relationship and disclosure some duties owned by company directors, such as the duty to act in good faith in the best interests of the company, the duty to avoid conflicts of the interest, the consequences of breaching a duty by directors and some defences for the company’s director. After that, in Part B the article will talk about some issues arise from the duties owned by partners in a partnership
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the interests of another person in the exercise of a power or discretion which will affect the interests of that other person in a legal or practicable sense.” * Bristol & West building society v Mothew – Duty of loyalty – the principal is entitled to the single-minded loyalty of his fiduciary. “this core liability has several facets. A difuciary must act in good faith; he must not make a profit out of his trust; he must not place himself in a position where his duty and his interest may
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non-business related vehicles; (g) Loan funds were not used where there is directly or indirectly a conflict of interest or the appearance of a conflict of interest in the Project; for Intermediaries this would include a situation in which the Intermediary, its officers, managers, Board of Directors, employees, their spouses, children, or close relatives, have a financial or ownership interest in the Project being funded, including its construction
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The use of deceptive, fraudulent or deceptive methods to obtain business. No employee shall use or disclose any non-public information that he or she obtains as a result of their employment. 4. Conflicts of Interest A conflict of interest exists when an employees personal interests conflict or interfere with
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and provides a “break-up” fee to the potential buyer if they are outbid. The seller usually has a bifurcated fee structure with a lower termination fee payable through the go-shop clause. If there is a reduced termination fee, it may generate more interest than a “no-shop” provision, and potentially more offers. From the seller’s perspective, a go-shop clause may be favored if there are risks during an auction such as lower than expected price or no bids which may have a negative effect on market
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company trading whle it is insolvent . s588G requires directors to be continually monitoring the financial status of their coy (* only apply to directors) * S181 – duties to act in good faith in the interest of coy and for a proper purpose * S 191 – duties to avoid conflicts of interest * S182&S183 – not to make improper use of position or information (* apply to employee) * S9 – define officer of coy- have management responsibility relation to a coy in financial difficulties
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abuses of power by the management and breach of fiduciary on the part of the directors? In our opinion, there are abuses of power by the management in the company of Delima Enterprise Sdn Bhd. The management should act in the best interest of the company not the best interest of the director. For example in this case, the management uses their power to withdrawals several money from the company without proper documentation. It is illegal because management is not allowed to take money without authorization
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