Keeping Good Companies articles from August 2007

Keeping Good Companies archives from August 2007

The results of the Ambition/CSA Working Practices Survey 2007.(Survey)
August 1, 2007... CSA and specialist finance and technology recruitment group Ambition surveyed CSA members recently about the working practices of governance professionals in Australia. Apart from the compilation of the profile of a typical governance...

Destruction of paper and electronic documents--what you need to know.
August 1, 2007... Key Issues * Destruction of documents prior to legal proceedings now regulated * Victorian legislation brought into effect to regulate destruction of documents, with interstate application * Importance of document retention...

Citigroup--what does it tell us that we didn't already know?
August 1, 2007... The Federal Court's judgment in ASIC v Citigroup Global Markets Australia Pty Limited [2007] FCA 963, handed down on 28 June 2007, was eagerly awaited in investment banking and legal circles, not just in Australia but globally. The Federal...

ASX Corporate Governance Council review of Corporate Governance Principles and Recommendations.
August 1, 2007... Key Issues * The majority of submissions on the review expressed strong support for the Australian 'principles based' approach and the review * Companies should establish appropriate risk management and oversight policies and...

Amendments to section 46 of the Trade Practices Act--striking the right balance?(COMPETITION LAW)
August 1, 2007... Professional Updates * Bill in Parliament to amend misuse of market power provisions of TPA * Boral and Rural Press cases unsuccessful; was s 46 meaningful or enforceable? * Amendments will provide greater clarity to assessment...

Annual report legislation--what this means for your company.
August 1, 2007... With the Corporations Legislation Amendment (Simpler Regulatory System) Act 2007 (SRS Act) receiving royal assent on 28 June, ASX-listed companies now have an ideal opportunity to redefine their approach to online investor communications and...

New ASIC policy in relation to corporate restructures--when is a prospectus required?(CORPORATE LAW)(Australia. Securities and Investments Commission)
August 1, 2007... Professional Updates * New ASIC policy statement on disclosure when restructuring * Change of interpretation of whether an invitation to vote constitutes an 'offer' * Various types of relief available on a case-by-case basis ...

At the crossroads--civil or criminal sanctions for corporate misconduct?(NEWS AND VIEWS)
August 1, 2007... The Treasurer's announcement in March 2007 releasing a discussion paper on Sanctions in Corporate Law (1) focuses attention on the issue whether civil or criminal sanctions are more appropriate ways to regulate corporate misconduct and comes...

Directors and officers--maximising company protection.(INSURANCE LAW)
August 1, 2007... Professional Updates * Officers who need comprehensive protection should have a deed of indemnity in addition to protection under the company's constitution * A corporation will be prohibited from indemnifying an 'officer' in...

Getting over the line on red tape reform.(NEWS AND VIEWS)
August 1, 2007... The Simpler Regulatory Systems (SRS) legislation, or red tape reform as it has come to be known, aims to reduce the regulatory requirements in certain areas including financial services and corporate reporting. The purpose of the legislation...

Untangling insurance.(RISK MANAGEMENT)
August 1, 2007... Key Issues * Insurers' profits rising, but premiums falling * Adequacy of current premiums may not be known for years * Certain forms of basic insurance coverage common to all business, but differences in emphasis for particular...

Not-for-profit--don't pay someone else's tax.(TAXATION LAW)
August 1, 2007... Professional Updates * Charities often pay more tax than required * Federal, state and council concessions are available * Treatment can vary depending on whether a charity is a fund or an institution It is a common...