100-member rule official repealed
After months of lobbying, legislation to repeal the “100-member rule” has been passed. According to the Governance Institute, the initiative will genuinely advance the Federal Government’s initiative to reduce red tape and save businesses thousands of dollars.
The “100-member rule” enabled just 100 shareholders to call a company general meeting, regardless of how may shareholders the company had. The company itself had to financially support the meeting, meaning large enterprises were often…