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Author: Phillip Lipton, Abe Herzberg and Michelle Welsh
Publication Date: 13 Nov 2015
Edition: 18TH EDITION
Understanding Company Law 18th edition is a leading text for both undergraduate law and business law students of corporations law. This edition retains the logical structure and comprehensive approach of earlier editions. It has been updated throughout to include discussion of the most recent relevant legislative developments, inclduing the following. The Corporations Legislation Amendment (Deregulatory and Other Measures) Act 2015 (Cth), which: removes the obligation of directors to call and hold a general meeting at the request of 100 shareholders; requires companies to include a general description of their remuneration governance framework; and exempts certain companies limited by guarantee from the need to appoint an auditor. The exposure draft of the Insolvency Law Reform Bill 2014 (Cth), which aims to strengthen and streamline the personal bankruptcy and corporate insolvency regimes. Under the Bill it is proposed to: give creditors enhanced powers to protect their own interests by giving them the right to determine when and what information they are provided by an insolvency practitioner; give creditors the power to appoint an independent specialist to review the performance of an insolvency practitioner and resolve to remove that practitioner without having to seek the approval of the Court; and require insolvency practitioners to undergo enhanced insolvency education, renew their registration every three years, have appropriate insurance as a condition of registration and establish a new liquidators disciplinary process. The Treasury Legislation Amendment (Spring Repeal Day) Bill 2015 (Cth), which proposes to: reduce the number of business identifiers by replacing the Australian Company Number (ACN) with an Australian Business Number (ABN) for companies registered after 1 July 2016; and change the notification and reporting obligations of managed investment schemes in receivership. Recent case developments covered in the new edition include: U & D Coal Ltd v Australian Kunqian International Energy Co Pty Ltd (share capital and the prohibition on self-acquisition); Re Molopo Energy Ltd (company s power to reduce share capital); Re Motasea Pty Ltd (valid transfers of shares); Re Appleyard Capital Pty Ltd (extending the time to register security interests); and Re Lime Gourmet Pizza Bar (Charlestown) Pty Ltd (valid appointment of an administrator by a director).
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