30 Sep 2021

Ph.D. thesis at the Faculty of Law discussing conflict of interest in a joint-stock company
The College of Law at the University of Karbala discussed the doctoral thesis tagged: Conflict of Interest in the Joint Stock Company – a comparative study – the thesis submitted by the student Haider Daoud Salman, and the importance of the study is reflected in the legislative and regulatory importance of the joint-stock company and its impact on supporting the national economy and the elements of Iraqi trade, especially that the study Addressing one of the most important legal problems faced by joint-stock companies, especially that Iraq is in dire need of developing the legislative infrastructure related to those companies that will bear fruit in developing the general economic reality of the country.
The study aims to address the problem of the lack of legislative protection provided by the Iraqi legislator to avoid conflict of interests, and the lack of sufficient legislative guarantees that protect the interests of the company towards those entrusted with its management due to the exploitation of their authority and legal position to achieve their personal interests or the interests of other companies in which they have multiple interests, as well as a conflict of interest Majority and minority owners of shares.
The study concluded that the concept of conflict of interest means the situation in which the controllers of the company’s affairs enter into a position of direct or indirect gain at the expense of the company’s interests by violating their legal obligations and the agreement towards it, although the Iraqi legislator stipulated the term each of (the interest of the company, Stakeholders, Conflicts of Interest, Duty of Care) within the Companies Law No. 21 of 1997, as amended, it did not set a specific concept for those terms of great importance in the context of conflict of interests.
The researcher also suggested a number of proposals, the most prominent of which is the Iraqi legislator’s call to put special and independent provisions for the fiduciary duty within the folds of the Iraqi Companies Law No. 21 of 1997 (Amended), which shows the scope of its application in terms of persons and substance to achieve the real purpose that this duty seeks.

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