Newsletter October 2012

The ‘Limassol Declaration’ on the Integrated Maritime Policy of the European Union

EU Ministers responsible for maritime affairs agreed and adopted on the 8^th of October 2012 a political declaration which looks to re-energise the EU’s Integrated Maritime Policy (IMP), five years after its initial launching in Lisbon. The Limassol Declaration is expected to provide guidelines for a comprehensive approach to the maximum sustainable exploitation of the EU’s seas and oceans for achieving economic growth.

Director’s authority to bind the company

In general practice the Directors have authority to bind the Company. Even if a particular person does not have actual authority to bind the Company with respect to a particular transaction, if he/she had apparent authority to do so, the Company is still bound. This person who does not have the actual authority will be liable to the Company for acting in excess of his/her authorities.