In short, companies are incorporated to create a separate legal entity, but they cannot act on their own; they need people to make the decisions and manage them. These people are the directors. A director is both an officer of the Company and an agent of the Company. Directors are the Company’s most senior level of management and each director has the right to take part in the board of management.
Generally the shareholders of the Company are the members of the Company, i.e. the owners, these being:
1. The subscribers to the Memorandum who become members when the Company is incorporated; and
2. Every other person who agrees to become a member and whose name is entered in the Register of Members.