Taking shareholder rights seriously. ( Australia Enterprise Law) Research Paper

Taking shareholder rights seriously. ( Australia Enterprise Law) - Research Paper Example The Australian government, judiciary and executive authorities have contributed significantly to rectify the situation earlier prevailed, to ensure protection of the interests the minority shareholders over the period of time. The paper seeks to study the gaps at the legislation as well as implementation level in transforming these policy decisions to the fulfillment of the objectives desired or intended in line with the spirit behind the process, taking into consideration, the complications involved in social background and the interpretations. The issues connected with the shareholders are multifarious and are interconnected or interrelated to various stakeholders’ interest in a business, and hence it becomes too difficult to enumerate the various situations which could be foreseen at the time of legislation or practicable to include in statutes, which warrants interpretations in the court of law for equitable justice to the parties concerned. Direct involvement of all the members of a company in a complicated business enterprise is not feasible in modern times. Therefore the directors of the corporations are expected to exercise their powers taking into account the interests of all the stakeholders and the other stakeholders. In Sidebottom v Kershaw, Leese & Co., the majority shareholders who were also the directors, passed a special resolution to alter the articles by allowing the directors to require the transfer at full value of shares held by an shareholder who competed with the company’s business. Minority shareholders who ran a business that competed with the company sought a declaration that the amendment was invalid. The court held that the alteration satisfied the Allen’s test in that it was taken for the company’s legitimate business interests and not for the interests of specific members.1 However in various other decisions, the treatment has differed based on the circumstances obtained in the cases. Foss v Harbottle rule is a famous

The Parable of the Good Samaritan Essay Example | Topics and Well Written Essays - 1000 words

The Parable of the Good Samaritan - Essay Example The man of law asks for an interpretation of the law. What is said by Jesus is told in the form of a story, which is known as the Parable of the Good Samaritan. The parable is not an explicit answer, but is an answer that provides the story in such a manner as to provoke thought and further conversation. This story is an essential form of teaching where the teacher poses the situation and the student draws from it the lesson. The story that Jesus tells is that of a man who is robbed and those who see his plight and their reactions. The first is a priest who walks to the other side of the road in order to avoid him. The second is a Levite who also walked to the opposite side of the road to stay uninvolved. The third is a Samaritan who provides the man with help. The Samaritan goes beyond simple help, giving him a ride to a village and asking an innkeeper to look after the robbed man until he is in health. During the process of providing health, the Samaritan bandaged his wounds, used oil and wine on him to help heal him, and let him ride on his donkey. He offers to pay the innkeeper for his service and any extra service that the robbed man may need. The question that Jesus, as the Great Teacher, poses to those hearing him is â€Å"Which of these three do you think was a neighbor to the man who fell into the hands of the robbers?† (Luke:36). The lesson is taught through an example, but without providing the answer to those he is teaching. He expects that through His example, they will find the answer of their own accord. The location of the parable is identified by Hughes and Laney (2001) as the Jordan Valley which is a bit north of the Dead Sea. This route which runs through Wadi Qilt is filled with rocks and rugged terrain where robbers could ambush travelers. There is no specific time given for this story, and it is just as likely that it is a story of example rather than a related story from history. The location makes it likely that the three traveler s who passed by the robbed man might be there, but allows for the significance of the Samaritan to shine through. The location is significant as it is a man traveling from Jerusalem to Jericho, which indicates that he is traveling from morality into lands of less. Hultgren (2004) relates the belief of Augustine who suggested that this descent represented man’s descent from what was holy and immortal to that which was not and was decidedly mortal. The road is a literal descent as it starts at Jerusalem which is at 2700 feet above sea level but ends at Jericho which resides at 850 feet below sea level. Interpretation Chapter ten of Luke begins by describing a mission that is given to seventy-two of Jesus’ followers. He sends them out to gather more believers through their various acts in His name. He expects an exchange from those the followers encounter. If they are welcomed, then they give the gifts that He has given them the power to give, but if they are rejected the y are to make clear that they have rejected men of God who are on His mission. He says to them â€Å"Whoever listens to you listens to me; whoever rejects you rejects me; but whoever rejects me rejects him who sent me† (Luke 10:16). In this case, when he gets to relating the parable, it can be said that he is relating the robbed man to his followers and those who accept them as neighbors as they are then given remedies