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Law
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Thursday, 20 August 2009 00:00 |
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In Australian Securities and Investments Commission v Macdonald (No 11) [2009] NSWSC 287 the New South Wales Supreme Court has decided in favour of ASIC's civil claim that a number of statements in the Draft ASX Announcement by James Hardie to the effect that the Foundation would have sufficient funds to meet all legitimate Asbestos Claims, that it was fully funded and provided certainty for people with legitimate Asbestos Claims were false or misleading and that the directors were in breach of Section 180(1) of the Corporations Act.
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Law
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Tuesday, 11 August 2009 22:33 |
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The Centre for Philanthropy and Nonprofits Studies (CPNS) at Queensland University of Technology has released its first annual almanac of the legal developments in not‐for‐profit law.
The Australian Nonprofits Sector Legal Almanac 2008 is designed as a quick reference guide to major developments in the law, with links to web versions of the relevant cases and documents for more detailed reading.
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Law
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Saturday, 25 April 2009 00:00 |
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An important argument in the trial in Australian Securities and Investments
Commission v Macdonald (No 11)[2009] NSWSC 287 was the
evidentiary value of the minutes of a key board meeting.
The minutes of the meeting of the board of James Hardie at the 15 February
2001 Meeting which referred to approval of the ASX announcement at the
centre of the case were signed as a correct record by the chairman at the
next meeting of the board on 4 April 2001.
ASIC argued that the minutes had the benefit of a statutory presumption in
s 251A(6) of the Corporations Law that the minutes were proof of their
contents unless the defendants proved to the contrary.
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Law
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Thursday, 02 July 2009 00:00 |
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There’s a good deal of activity in the area of not‐for‐profit law reform. The Government has some seven inquiries in train, including some heavy hitters, and hundreds of detailed submissions on the need for change are up at the Productivity Commission site and the Senate Inquiry site. There is again pressure for change to some of the more irritating aspects of not‐for‐profit regulation in this country.
The push is not just coming from within Government.
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