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Ensuring balance in corporate governance : parts 2F.1 and 2F.1A of the Corporations Law

journal contribution
posted on 2001-01-01, 00:00 authored by J McConvill
Effective corporate governance must balance the competing, and at times conflicting, objectives of efficient endeavour and accountability. The CLERP amendments to the Corporations Law introduced on 13 March 2000 go a long way towards providing this balance. While the business judgement rule was introduced to promote efficient endeavour, Pts 2F.1 and 2F.1A maintain corporate accountability. This article compares Pts 2F.t and 2F.1A of the Corporations Law. It is argued that, although there are procedural and substantive differences between the two parts that need to be understood by practitioners, the importance of the two Parts is that they work together to provide for a much-needed improvement and enhancement of shareholder rights and remedies, thus upholding accountability in corporate governance.

History

Journal

Australian journal of corporate law

Volume

12

Issue

3

Pagination

293 - 305

Publisher

Lexis Nexis Butterworths

Location

Chatswood, N.S.W.

ISSN

1037-4124

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

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