Report of the Company Law Amendment Committee

Overview and excerpts

• ‘Public attention was directed by the decision in the City Equitable Case to the common article which exempts directors from liability for loss except when it is due to their wilful neglect or default… Another form of article

• ‘We consider that shareholders representing a substantial portion of the voting power should have the right to requisition a certified statement of the remuneration, etc., paid to directors, including managing directors.’