Pearse Trust Blog

The Financial Services Authority (FSA) has introduced new regulations in respect of application of LIBOR (London Inter-Bank Offered Rate) rates.

The Guidance Report on Board Effectiveness issued by the Financial Reporting Council (FRC) notes that the chairperson of a meeting fulfils an important leadership role, particularly in creating the conditions for overall committee and individual director effectiveness; a good board is created by a good chairperson.

The Companies Act 1993 (“the Act”) sets out the statutory record keeping requirements for all New Zealand companies registered thereunder. The legal obligations to maintain these records are summarised in this blog post.

A shareholders’ agreement is a private contract between some or all of the shareholders of a company, and often the company itself. This agreement will typically govern the ongoing relationship between the parties and may set out how the company is to be managed and controlled.  

On 26 October 2012, the England and Wales Court of Appeal delivered an important judgment in Petrodel Resources Ltd & Ors v Prest & Ors [2012] EWCA Civ 1395.

This article considers the pitfalls of voluntary transfers in Ireland, the ability of creditors to set aside voluntary transfers under various sections of legislation in Ireland and the importance of establishing solvency at the time of the voluntary transfer to ensure it withstands close scrutiny.

The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 will come into effect in New Zealand on 30 June 2013. 

What Is A Single Member Company?

A single member company can be defined as a company with only one member, also referred to as the shareholder. A company may be formed as a single member company or may become a single member company following a share transfer whereby the number of shareholders is reduced to one.  This one shareholder will hold all of the shares of the company in their name.

A pre-emptive right is a contractual right, but not an obligation, of existing shareholders to buy a proportional number of any new shares issued by a Company before they are offered to any other person or entity. In this way, existing shareholders can avoid dilution of their ownership stake in the company.