Company law

Article Abstract:

Two 1992 Australian cases in company law dealing with unauthorized acts by agents show the difference between the statutory and common law forms of the indoor management rule. The common law indoor management rule relies on the notion of being put on inquiry while the statutory counterpart does not. In cases under the common law rule it may be important when, exactly, notification was given, however this is not crucial in the statutory version. When the statute applies, greater protection is afforded those dealing with companies, but third parties may have to rely on the common law version.

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Directors' and officers' liability insurance - recent reforms and developments in Australia and New Zealand

Article Abstract:

Changes in the statutory and case law on directors' and officers' liability insurance in Australia and New Zealand will make such insurance more readily available and may temper premiums increases. Case law will now require directors to make disclosures even if they are not parties to insurance contracts. An Australian law was enacted to allow companies to pay for insurance for their officers and directors. Improving access to affordable insurance will promote economic growth by protecting risk-taking corporate officers.

New Zealand, Directors' and officers' liability insurance, Fiduciary duties

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Enforcement of corporate rights and duties by shareholders and the Australian Securities Commission: evidence and analysis

Article Abstract:

Review of litigation brought to enforce corporate rights and duties reveals that actions by both shareholders and the Australia Securities Commission (ASC) are important to ensure that corporations and their officers comply with their responsibilities. The survey shows that stockholders brought actions for different purposes than did the ASC. The enforcement actions of the ASC should persist because they address issues not contested by shareholders and because enforcement can be integrated with other ASC functions.

Stockholders' derivative actions, Shareholder lawsuits, Australia. Securities and Investments Commission

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