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Legal Aspects Of Fiduciary Duties In Malaysia

Author Wan Azlan Ahmad and Mohsin Hingun 
Publication Date Jun 2022
ISBN 9789672723509
Format
Hardcover + E-Book, 362 pp
Publisher Sweet & Maxwell

 

This project aims to investigate legal principles in regard to fiduciary legal responsibility. These responsibilities include not just those arising from the court's equitable jurisdiction, but also those imposed by written law and those formed at common law. Fiduciary duties have a broad scope in private law, governing the conduct of professionals such as trustees, lawyers, company directors, company promoters, partners, and agents; and in some other relationships, the facts of the case may justify the imposition of fiduciary duties on employees, financial advisors, bankers, and joint venture partners, to name a few examples. Where the hallmarks of trust and confidence are recognised, fiduciary obligations may be imposed in cases not covered by precedent.

The importance of the office of trustees, and the attendant fiduciary duties attached to trustees, in the corporate and financial sectors is demonstrated by the creation of the office of trustees under the companies as well as the capital markets and services statutes; this is in addition to the existing principles of law, including those developed by equity, governing the exercise of directorial powers by company directors.

This publication should be welcomed not only by those involved in the teaching, practise, and enforcement of the law, but also by those to whom fiduciary obligations may apply, which includes anyone who may be bound by a duty of loyalty to another party or parties in a given relationship, as well as their advisors.

The following are some of the most important components of fiduciary responsibility that are discussed:

  • When does the presumption of fiduciary ties apply, and when does it not?
  • In innovative circumstances, the test for the existence of a fiduciary connection.
  • Fiduciary responsibilities and its connection to the obligations of loyalty, good faith, and serving the principal's best interests.
  • The need to treat confidential information with fairness.
  • In equity and under written law, directors have a responsibility.
  • Obligation to prevent potential conflicts of interest.
  • It is a moral obligation to refrain from making personal profit.
  • Defences.
  • Remedies, with a focus on fair compensation and profit accounting.
  • Fiduciary responsibilities in the setting of public law.
  • The criminal law, including sentence, and breaches of fiduciary responsibilities.

TABLE OF CONTENTS of Legal Aspects Of Fiduciary Duties In Malaysia

1. Introduction      
2. Relationships Giving Rise to Fiduciary Duties
3. Fiduciary Loyalty and Other Duties: The Company Law Context
4. Legal Implications of a Fiduciary Relationship
5. Trusts under Statutes
6. Defences for Breach of Fiduciary Duties
7. Remedies for Breach of Fiduciary Duties              

8. Criminal Law Aspects of Breach of Duty by Fiduciaries

 


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