Law-making: show us the minutes
A challenge relating to a share buyback proposal in the latest Companies Amendment Bill is shining a light on the sometimes opaque company law-making process. That can only be a good thing
The Companies Amendment Bill, which made a brief appearance in September 2018 before disappearing into the depths of the department of trade, industry & competition (DTIC)’s offices, looks to be headed for a rough ride ahead of its expected approval some time next year.
It’s not just the vigorous pushback from business on the issue of disclosing the wage gap, or the likely opposition to the favourable position created for landlords during business rescue. Activist investors are up in arms over the proposal to scrap shareholder protection in the event of a significant share repurchase by a company...