Company law

Arbitrator's decision upheld in minority buy-out dispute on share price
In 2001, the Law Commission recommended changes to the minority buy-out provisions in the 1993 Companies Act in response to criticism from the bench that the provisions lacked detail and were "substantially flawed". In this article Bell Gully solicitor Connie Tregidga examines a recent High Court case which confirms that there is still a need for these recommendations to be addressed.

Directors' business decision questioned in reckless trading case
In the Autumn 2006 issue of Commercial Quarterly we reported on Mason v Lewis where, according to the court, the directors had fallen short of the mark in their monitoring and management of a company even though they had acted honestly and in good faith throughout the life of the company. In this recent case, once again, the court indicates that directors' business decisions and practices will be scrutinised closely in the event of insolvency.

New rules for companies' annual reports all set for June implementation
Regulations required for the implementation of the new rules aimed at lowering the compliance costs associated with the preparation and dissemination of a company's annual report were enacted on 14 May. These regulations and the main amendments to the Companies Act will come into force on 18 June in time for companies with 30 June balance dates.

Updates from the Companies Office
In this issue we discuss why companies that no longer need to register financial statements may still need to have their financial statements audited. We also note the Companies Office's new fee structure.

Enquiries and information

For more information on any of the cases, articles and features in Commercial Quarterly, please email Diane Graham or call her on 64 9 916 8849.