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The latest issue of the Company and Securities Law Journal (Volume 41 Part 3) contains the following material:
Articles
Adjourning Company Meetings Sine Die – The Hon RI Barrett AO
If a meeting of a company’s members is adjourned but the date, time and place for its resumption are not specified as part of the adjournment, by whom (and how) is the missing matter to be supplied? The lack of any clear answer to this question makes adjournment sine die a problematic course unless the company’s constitution has been tailored to accommodate the situation.
Artificial Intelligence and Super Fund Trusteeship – M Scott Donald
Tools that embody well-trained artificial intelligence (AI) models offer resource-strapped superannuation fund trustees the prospect of fast, efficient and rigorous support for their decision-making. But there are operational and legal risks. Not all the decisions a superannuation fund trustee is called upon to make are therefore suited to the application of AI. So what might super fund trustees properly use AI to do? This article considers the legal and practical issues facing the trustees of superannuation funds who may be contemplating employing AI tools in the various aspects of administering their funds. It finds that above and beyond the well-documented potential for AI models (and therefore the tools that use them) to generate nonsensical outputs, the requirement, fundamental to the office of trustee, to be able to demonstrate careful personal engagement in the exercise of key discretions poses challenges that are particularly acute.
Developing a Sector-based Framework for Mandatory Director Financial Literacy Training in Australia – Jade Hazan
Directors are largely responsible for the good governance of corporations, which at its core, requires financial literacy. Emerging research shows that directors consistently fall short on measures assessing their financial literacy. This is unsurprising given the lack of restrictions on who can be a director in Australia, leaving many at risk of serious penalties. While it would be impractical to mandate training for every director, this article describes a framework to identify sectors in which breaches of finance-related duties are most common, and might be prevented by mandatory financial literacy training. After conducting searches through case law and other enforcement records, this article identifies that the most vulnerable sectors are construction, real estate, and financial services. Analysis revealed that director financial literacy training may be most effective to prevent breaches in the construction and real estate sectors.
COMPANY LAW – Editor: Juliette Overland
- The Regulatory Tide against Greenwashing Reaches a High – ASIC v Mercer Superannuation – Dr Cary Di Lernia and Professor Juliette Overland
TAKEOVERS – Editor: Jonathan Farrer
- The Difficulty of Proving Loss and Company “Awareness” in Continuous Disclosure Class Actions – Darsh Chauhan
NEW ZEALAND AND SOUTH PACIFIC – Editor: Gordon Walker
For the PDF version of the table of contents, click here: New Westlaw Australia – CSLJ Vol 41 No 3 Contents or here: Checkpoint – CSLJ Vol 41 No 3 Contents
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