Product Description
The purpose of this text is to provide a comprehensive, yet succinct, examination of the most significant areas of corporations law. Through the identification of the key elements underlying the pertinent statutory provisions, the use of a plain English writing style and simple format, the text seeks to make corporations law more accessible to those who seek to study or practise in the area of corporations law. Since the publication of the fourth edition there have been significant changes in corporations law. From a legislative perspective, important changes have also been effected through the passage of, inter alia, CLERP 9. This has impacted significantly on the law pertaining to executive officers and directors (in particular their remuneration and financial reporting) and disclosure documents.
Judicially, this period has been marked by a considerable number of important cases pertaining to directors’ liability arising out of, inter alia, high profile corporate collapses, including HIH and One.Tel. These cases have provided guidance as to the applicability of both statutory and equitable directors’ duties, but also clarified the procedural and substantive law aspects of the penalties flowing from breaches of such duties.
Preview
Introduction/ Historical development of corporations law/ Australian developments/ Present jurisdictional and administrative arrangements/ Constitutional position
Choosing Between Business Organisations
Introduction/ Sole proprietorship/ Trading trust/ Partnership/ Joint ventures/ Company
Corporate Personality
Introduction/ Corporate personality/ Company’s liability/ Piercing the corporate veil
Promoters and Pre-registration Contracts
Introduction/ Who is a promoter?/ Promoter’s duties/ Consequences of a breach of a promoter’s duties/ Pre-registration contracts at common law / Breach of warranty of authority/ Reimbursement of promoter’s costs/ Pre-registration contracts under the Corporations Act
Incorporation and Registration of Corporations
Introduction/ "Shelf" companies/ Prerequisites to registration/ Registration/ Post-registration requirements/ Registration of existing entities
The Corporate Constitution
Introduction/ Memorandum and articles/ Mandatory and replaceable rules and the constitution/ Statutory contract/ Objects
Shares and Dividends
Introduction/ Shares/ Authorised share capital/ Categories of shares/ Variation of class rights/ Maintenance of share capital/ Dividends
Disclosure Documents
Introduction/ Self-assessment/ Securities/ Offers that need Disclosure/ Excluded offers/ Disclosure Document/ Requirements for Offering Securities/ Contents of Disclosure Document/ Stop Orders/ Defective Disclosure/ Restrictions on Advertising and Publicity/ Hawking Securities/ Financial Services Reform Act
Appointment and Removal of Directors
Introduction/ Board of directors/ Directors of officers/ Company officers/ Qualifications/ Disqualification from being a director/ Appointment of directors/ Directors’ remuneration/ Resignation/ Vacation of office/ Removal of directors/ Payments for loss of office
Directors’ Duties
Introduction/ Director’s fiduciary relationship/ Duty to act honestly and in the best interests of the company/ Duty not to fetter discretion/ Proper purpose doctrine/ Duty to avoid a conflict of interests/ Duty to act with due care and diligence/ Insolvent trading
Meetings
Introduction/ Types of meetings/ Meetings/ Board meetings/ Annual general meeting/ General meetings/ Directors’ power to postpone meetings/ Class meetings/ Notice of meetings/ Quorum/ Resolutions/ Proxies/ Representatives/ Voting/ Minutes of meeting/ Validating procedural irregularities
Members’ Remedies
Introduction/ Types of proceedings/ Rule in Foss v Harbottle/ Statutory derivative action/ Oppressive, unfairly prejudicial or unfairly discriminatory conduct/ Section 1324 injunctions/ Right to inspect books
External Administration
Introduction/ Schemes of arrangement/ Receivership/ Administration of company/ Winding up generally/ Winding up by the court/ Voluntary winding up/ Deregistration
Table of Cases/ Table of Legislation/ Index