scholarly journals A Closely-Held Companies Act for New Zealand

2007 ◽  
Vol 38 (3) ◽  
pp. 543 ◽  
Author(s):  
Matthew Farrington
Keyword(s):  
New Zealand ◽  
Limited Liability ◽  
The Other ◽  
Regulatory Requirements ◽  
Company Limited ◽  
Compliance Requirements ◽  
Key Features ◽  
The Law

This paper examines the law relating to closely-held companies. It concludes that the Companies Act's regulatory requirements imposed on directors to ensure accountability to shareholders do not have any benefit where companies are closely-held. The costs arising from such regulatory requirements are therefore unjustified. The paper therefore argues that New Zealand should adopt a new flexible and accessible statute designed to meet the needs of closely-held companies. This statute should be in addition to the existing Companies Act, and should be informed by comparative precedent. This paper argues that the key features of this statute should include removing the distinction between shareholders and directors. This in turn removes the need to impose regulatory requirements on directors in favour of shareholders. The other features relating to defining a closely-held company, limited liability, protections for creditors, and relations between "principals" are also considered in this paper. The net result is a simple, straightforward set of requirements suitable for closely-held companies in New Zealand, without onerous or unjustified compliance requirements.

scholarly journals ETHICAL PRINCIPLES OF SOCIETY AS REGULATORY FACTORS OF CIVIL LAW OF UKRAINE: THE ISSUE OF VALIDITY

2019 ◽  
pp. 16-20
Author(s):  
V. Кroitor
Keyword(s):  
Civil Law ◽  
The Other ◽  
Ethical Principles ◽  
Regulatory Requirements ◽  
Regulatory Factors ◽  
Other Hand ◽  
Moral Rules ◽  
The Law ◽  
The One

The article studies the issue of scientific and practical validity of applying ethical principles of society as regulatory factors of civil law of Ukraine. Taking into account the lack of validity of ethical principles of society as regulatory factors, the author attempts to make a correlation between the content of such principles of civil law as fairness, integrity and reasonableness, on the one hand, and ethical principles of the society, on the other hand. The author of the paper proves that it is inappropriate to apply the provisions of morality as regulatory factors for the regulation of civil relations. The conclusion on the objection to the civil regularity of ethical principles of society is based on several theses. Firstly, moral rules are not formalized, which creates a threat of arbitrary interpretation of their content. Secondly, ethical principles do not have a definite source of origin. Thirdly, the fundamental ethical rules have already been taken into account in the content of the principles of fairness, integrity and reason, which in turn create competition between the two types of regulatory factors. Unreasonable duplication of regulatory requirements reduces the functionality of the law, complicates the perception of its requirements. The competition between the principles of law and the ethical principles of society must be eliminated by refusing to give the latter the function of regulatory factors. The author of the paper does not deny the possibility of taking into account the ethical principles of society while regulating the relations that have been neglected by the "official law".

scholarly journals The Law of Contribution – An Equitable Doctrine or Part of the Law of Unjust Enrichment?

2017 ◽  
Vol 48 (3) ◽  
pp. 471
Author(s):  
Victoria Stace
Keyword(s):  
New Zealand ◽  
Supreme Court ◽  
Enrichment Analysis ◽  
The Other ◽  
Unjust Enrichment ◽  
The Supreme Court ◽  
The Law ◽  
Significant Change

This article looks at the changes made to the equitable doctrine of contribution by the New Zealand Supreme Court in a 2016 decision, Hotchin v New Zealand Guardian Trust Co Ltd. The approach now favoured by the Supreme Court is that to establish a claim for contribution by one defendant against another, there is no need to find any greater degree of coordination between the liabilities other than that the plaintiff could pursue either defendant for its loss and either would be liable for it, in whole or in part. The underlying rationale is that by paying the plaintiff, the defendant who was pursued not only discharges itself but also discharges the other defendant's liability. If mutual discharge is established, the court then determines the amount of contribution based on what is just and reasonable in the circumstances. The Supreme Court's approach to the doctrine of equitable contribution, which is a significant change to previous law, bears similarities to the approach proposed in the leading text on unjust enrichment, raising the issue of whether a future claim for contribution could be approached using an unjust enrichment analysis.

scholarly journals PENERAPAN PRINSIP BUSINESS JUDGEMENT RULE TERHADAP DIREKSI ATAS PERBUATAN MELAWAN HUKUM KARYAWAN KARENA MENETAPKAN DISKON PEMBELIAN EMAS ANTAM SECARA SEPIHAK

2021 ◽  
Vol 13 (1) ◽  
pp. 97-112
Author(s):  
Indriyani Kusumawati ◽  
Yeti Sumiyati
Keyword(s):  
Board Of Directors ◽  
Legal Protection ◽  
Limited Liability ◽  
Company Limited ◽  
The Board Of Directors ◽  
Illegal Acts ◽  
The Law

Unlawful acts cannot be separated by a violation of one's rights. This research is based on the phenomenon of directors who are penalized for unlawful acts committed by their employees. In 2021, PT Antam appealed to the court because the board of directors felt aggrieved by the judge's decision to impose damages on the directors of PT Antam. In fact, those who do illegal acts to the detriment of consumers are Eksi Anggraeni and the two employees, Misdianto and Ahmad Purwanto through the lure of discounts without the approval of the company. Limited Liability Companies Law implicitly regulates the concept of legal protection that is already known in some countries, namely the principle of Business Judgement Rule. This principle can be used by directors as a basis for legal protection to achieve justice. Therefore, the purpose of this research is to comprehend the responsibility of the board of directors for actions against employee law that stipulates discounts on the purchase of Antam gold unilaterally associated with the law of limited liability companies and review the application of the principles of Business Judgement Rule to directors who must be responsible for actions against the law of employees. The results of this study concluded that the directors of PT Antam cannot be held accountable. Furthermore, the application of the Business Judgement Rule principle has not been applied to this case, so legal protection to the board of directors is still ignored by the judge and has not shown justice.                  

scholarly journals Perlindungan Hukum Nasabah terhadap Kerugian Akibat Pengalihan Asset Berdasarkan Prinsip Penyingkapan Tabir Perseroan ((Piercing The Corporate Veil) dalam kaitannya dengan Pertanggung Jawaban Komisaris ( Studi PT. Bank Century.,Tbk)

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Gios Adhyaksa
Keyword(s):  
Private Property ◽  
Limited Liability ◽  
Secondary Data ◽  
Company Limited ◽  
Self Interest ◽  
Piercing The Corporate Veil ◽  
The Law ◽  
The Government ◽  
Principle Of Legality ◽  
Made In

Against a Limited Company in Banking in accordance with the form of business entity and legal entity that is the Law No.. 40 of 2007 on Limited Liability Company and the Law No.. 10 of 1998 concerning Banking can be used as a basis for assessing the application of the principle of legality Piercing The Corporate Veil in the case of PT. Bank Century Tbk. and organs Piercing The Corporate Veil aims for the creation of wealth and prosperity not only for organ (direksi, shareholders, and the commissioner) of the company, but also for all stakeholders (customers, investors, creditors, employees). After reviewing the case of PT. Bank Century Tbk is known that there are some legal issues that occurred and resulted in the company and stakeholders at a disadvantage, in which the organ PT. Bank Century Tbk together misusing authority and take advantage of banks to personal self-interest. The problems that can be identified are as follows: How does the function and position of commissioner of PT Bank Century Tbk in order to protect customer funds users, the commissioners responsibility for customer losses by shifting assets on the basis of the company's attitude veil (piercing the corporate veil), the effort commissioners should be done along with other directors to deal with customer losses caused by the transfer of assets. Results of research that has been done shows that PT. Bank Century Tbk proven to have committed an unlawful act of the early establishment of PT. Bank Century Tbk. Efforts should be made in the application of the responsibility to the stakeholders, namely with the implementation of the principle of piercing the corporate veil. The principle of piercing the corporate veil is one of the efforts of the Government to provide justice to the stakeholders, which saw the implementation of the responsibility of the company personally organ came to abolish private property with limited liability of the organ (limited liability). This is a descriptive analytical study aimed to obtain a thorough and systematic application of the principle of piercing the corporate veil of PT Bank Century Tbk associated with the statutory provisions. The method used is normative, the research focuses on the study of literature in the form of secondary data to determine how the application of the principle of piercing the corporate veil in PT. Bank Century Tbk.Keywords : Piercing The Corporate Veil, Bank, Company Limited.

Inheritance of a Share in a Limited Liability Company under Ukrainian Law

2020 ◽  
Vol 10 (2) ◽  
pp. 528
Author(s):  
Iryna A. DIKOVSKA ◽  
Iurii D. PRYTYKA
Keyword(s):  
Limited Liability ◽  
The Other ◽  
Controversial Issues ◽  
Limited Liability Company ◽  
The Law ◽  
The Right ◽  
Authorized Capital ◽  
A Share

The research focuses on one of the consequences of the death of the participant of a limited liability company under Ukrainian law: the emergence of a right to inherit his or her assets in the company. It analyses one of the most controversial issues of Ukrainian succession law: what types of assets the heirs inherit: the share in the authorized capital of the company or also the right to participate in it. As long as, on June 17, 2018, the Law of Ukraine ‘On Limited Liability and Additional Liability Companies’ has come into force, the research compares the approaches of previous legislation and the new Law. It has been concluded that the new Law makes the rule, under which the share in the authorized capital transfers to the heirs of the deceased participant, mandatory. It provides the automatic transfer of the right to participate in the company to the heirs. The new Law protects the interests of the heirs and does not take into account the interests of the other participants.

Dukungan Legislatif Dalam RUU KUHP Untuk Pemberantasan Korupsi: Pro dan Kontra Tindak Pidana Korupsi dalam RUU KUHPDukungan Legislatif Dalam RUU KUHP Untuk Pemberantasan Korupsi: Pro dan Kontra Tindak Pidana Korupsi dalam RUU KUHP

Jurnal Hukum ◽  
2016 ◽  
Vol 31 (2) ◽  
pp. 1721
Author(s):  
Muhammad Aziz Syamsuddin
Keyword(s):  
United Nations ◽  
Criminal Code ◽  
The Other ◽  
Deterrent Effect ◽  
United Nations Convention ◽  
Legislative Support ◽  
The Law ◽  
Shared Commitment ◽  
Crime Of Corruption

AbstractThe spirit of the eradication of corruption is running continually. Various efforts or strategies were arranged to sharpen the power of corruptions’ eradication. One of the strategies is legislation support or comprehend and effective legislation. It was proved by the enactment of Law No. 28 of 1999 on State Implementation of Clean and Free from Corruption, Collusion and Nepotism and also Law No. 31 of 1999 as amended by Law No. 20 of 2001 on Corruption Eradication. The other related legislation such as Law No. 30 of 2002 on Corruption Eradication Commission and the Law 8 of 2010 on the Prevention and Eradication of Money Laundering.  Those Supporting legislations show that there is a shared commitment to eradicate corruption. Indonesia has also ratified the UNCAC (United Nations Convention against Corruption) by Law No. 7 of 2006 on the UN Convention (United Nations) Anti-Corruption. Support legislation is expected to provide a deterrent effect for offenders and protecting the rights of citizens has a whole. Keywords: Legislative Support, Criminal Code Draft, Eradication, Crime of Corruption, Pros and Cons    AbstrakSemangat pemberantasan tindak pidana korupsi terus bergulir. Berbagai upaya atau strategi dibangun untuk mempertajam kekuatan pemberantasan korupsi. Salah satunya adalah dengan dukungan legislasi atau peraturan perundang-undangan yang komprehensif dan efektif. Dibuktikan dengan lahirnya Undang-Undang No. 28 Tahun 1999 tentang Penyelenggaraan Negara yang Bersih dan Bebas dari Korupsi, Kolusi, dan Nepotisme dan Undang-Undang No. 31 Tahun 1999 sebagaimana diubah dengan Undang-Undang No. 20 Tahun 2001 tentang Pemberantasan Tindak Pidana Korupsi. Adapun undang-undang terkait lainnya seperti UU No. 30 Tahun 2002 tentang Komisi Pemberantasan Tindak Pidana Korupsi dan UU No. 8 Tahun 2010 tentang Pencegahan dan Pemberantasan Tindak Pidana Pencucian Uang. Dukungan legislasi tersebut menunjukkan adanya komitmen bersama untuk memberantas tindak pidana korupsi. Indonesia juga  telah meratifikasi UNCAC (United Nations Convention Against Corruption) dengan UU No. 7 Tahun 2006 tentang Konvensi PBB (Perserikatan Bangsa-Bangsa) Anti Korupsi. Dukungan legislasi ini diharapkan memberikan efek jera bagi pelaku sekaligus melindungi hak-hak warga negara secara keseluruhan. Kata Kunci: Dukungan Legislatif, RUU KUHP, Pemberantasan, Tindak Pidana Korupsi, Pro dan Kontra

Genital Call and Genitals on Trial: by Giegold & Weiß (nGbK, 2014)

Screen Bodies ◽  
2016 ◽  
Vol 1 (2) ◽  
pp. 87-91
Author(s):  
Karen Fiss
Keyword(s):  
Sexual Assault ◽  
Male Student ◽  
The Other ◽  
Columbia University ◽  
The Law ◽  
Affirmative Consent

In California, where I live, an affirmative consent law was recently passed: often referred to as the “yes means yes” standard for sexual assault, it is now required of all colleges receiving state funds. Supporters of the law argue that campus rapists can no longer be exonerated because their victims did not resist or were incapacitated by fear, shame, or intoxication. On the other side of the country, a student at Columbia University became an icon in this ongoing legal struggle by carrying her mattress around with her everywhere, including to her graduation, as a sign of protest against the university’s refusal to expel the male student who raped her.

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