{"id":4632,"date":"2013-02-01T18:11:09","date_gmt":"2013-02-01T07:11:09","guid":{"rendered":"http:\/\/sites.thomsonreuters.com.au\/journals\/?p=4632"},"modified":"2013-02-01T18:11:09","modified_gmt":"2013-02-01T07:11:09","slug":"4632","status":"publish","type":"post","link":"https:\/\/sites.thomsonreuters.com.au\/journals\/2013\/02\/01\/4632\/","title":{"rendered":"Company and Securities Law Journal update: February 2013"},"content":{"rendered":"

*Please note that the links to the content in this Part will direct you to Westlaw AU. If you are still using Legal Online, the links can be found in the LOLA PDF<\/strong> at the bottom of this post.<\/p>\n

The latest issue of the Company and Securities Law Journal <\/em>(Volume 31 Part 1) contains the following material:<\/p>\n

EDITORIAL<\/a><\/p>\n

Article<\/h3>\n

The High Court and the c-suite: Implications of Shafron for company executives below board level<\/em><\/strong><\/a> <\/strong>\u00e2\u20ac\u201c <\/em>Tim Bednall and Victoria Ngomba<\/p>\n

In Shafron v Australian Securities and Investments Commission <\/em>(2012) 86 ALJR 584; 88 ACSR 126, the High Court confirmed that the company secretary and general counsel of James Hardie was an \u00e2\u20ac\u0153officer\u00e2\u20ac\u009d of the company for the purposes of the Corporations Act 2001 <\/em>(Cth); and that Shafron\u00e2\u20ac\u2122s liability as an officer for breach of the statutory duty of care extended to the performance by him of the whole of his responsibilities and functions, not just those connected with his formal role as company secretary. The Shafron <\/em>decision may be interpreted as widening the class of persons below board level who are treated as officers for this purpose, without any certainty about the outer limits of the definition. This article revisits the scope of the Corporations Act <\/em>definition of \u00e2\u20ac\u0153officer\u00e2\u20ac\u009d in light of the High Court\u00e2\u20ac\u2122s decision, seeks to identify those roles which are likely to make a person an \u00e2\u20ac\u0153officer\u00e2\u20ac\u009d and points out the implications of bringing persons in corporate roles below board level within the definition. It concludes by making suggestions for reform.<\/p>\n

To purchase this article, complete the Individual Article Sale<\/a> order form and email it to tlranz.journal.orders@thomsonreuters.com<\/a>.<\/p>\n

Sections<\/h3>\n

SECURITIES INDUSTRY AND MANAGED INVESTMENTS<\/a> \u00e2\u20ac\u201c Ann O\u00e2\u20ac\u2122Connell<\/em><\/p>\n