Home -> Law Blog Directory -> International Law Blogs -> Australian Regulatory Compliance Review
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense
Find a Local Lawyer
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402
International Law
: Australian Regulatory Compliance ReviewAre draft statements 'books' of a company?
In Areva Nc (Australia) Pty Ltd -V- Summit Resources (Australia) Pty Ltd [No 2] [2008] WASC 10, the Supreme Court of Western Australia dealt with the issue whether a draft incomplete statement taken from a witness by a former solicitor for a company but which was never signed or provided to the company is part of the "books" of the company.
Whilst it was clear that the draft or drafts of the statements of the evidence to be given are 'books', in this case, the critical question was whether they are the books of the company.
Section 247A of the Corporations Act empowers the court to make an order authorising the inspection of 'books of' a company. The word 'books' is given an expansive definition by s 9 of that Act, and includes:
(a) a register; and
(b) any other record of information; and
(c) financial reports or financial records, however compiled, recorded or stored; and
(d) a document.
The Court concluded that the draft or drafts of the statements of the evidence prepared by the company's solicitor at a time when he was acting for and on behalf of the company in relation to the relevant litigation are the property of and belong to the company, and are therefore 'books of' the company for the purposes of s 247A of the Corporations Act.
Full post as published by Australian Regulatory Compliance Review on March 10, 2008 (boomark / email).
California Limited Liability Company Formation
Relevant information for starting a limited liability company in California
Stock Splits and Reverse Stock Splits
How splits can affect stock value
Atlas Cold Storage
Income Trust to pay $40 million to settle a class action that claims misrepresented financial statements.
Charys Holding Company
OTCBB: CHYS
Century Aluminum Company
401(k) / ERISA Stock Fraud
Charys Holding Company
401K / ERISA Stock Fraud
T-Mobile USA
alleging the company charged customers for services without their consent.

LWI - The Second Draft Now Available Online
China Publishes New Draft Food Safety law
THE FINANCIALS OF A DUTCH CARIBBEAN COMPANY
FDA Launches Draft Guidelines On Financial Ties With Drug Companies








