29 / 338
relates
to
the definition of " copyright"
is
to
include
the
sole
right
to produce,
reproduce,
perform or publish any translation of the work.
(2) Where, before the commencement of this Act,
the sole right to produce, reproduce, perform or
publish any translation of a work into the Irish
language ceased to exist by virtue of the operation
of subsection (2) of section 154 of the Act of 1927
that sole right shall, as from such commencement
again subsist as part of the copyright in that work
for the remainder of the term for which such
copyright subsists, i.e., until the end of the year
following
the
joth anniversary of the author's
death.
(3) Where the sole right to produce, reproduce,
perform or publish any translation of a work into
the Irish language had, by virtue of the operation
of subsection (2) of section 154 of the Act of 1927,
ceased to exist before the commencement of this
Act and the work was, before such commencement,
translated into the Irish language, then, whether
or not there has been publication of the translation
before such commencement, publication
thereof
after such commencement shall not constitute an
infringement of copyright in the work, unless the
first publication of the translation occurs after a
period of at least three years has elapsed since this
Act came into force.
Section 155 of the Act of 19^7 relating to the
exceptions to an infringement of copyright in fail-
dealing with the work for the purpose of criticism,
review or study, is hereby amended by the addition
of the following words :
(a)
provides that, in the case
of such criticism, review or newspaper summary, if
any quotation from the work is made, the source of
the quotation is acknowledged and the name of the
author of the work, if it appears thereon, is given ;
(b~)
in the case of a publication of a collection of prose
or poetry intended for schools provided that the
sources from which the passages are taken are
acknowledged and that the name of the author
of any work from which such passages are taken,
if it appears thereon, is given.
Rules of court may be made for the purposes of
the Act, in cases where an appeal is prescribed to
the High Court.
This Act shall come into operation on such day
as the Minister for Industry and Commerce appoints
by order.
REPORT OF THE COMPANY LAW
REFORM COMMITTEE—1958
THE report of the Company Law Reform Committee
1958, under the initial chairmanship of the late
Mr. H. Vaughan Wilson, S.C., and subsequently
under the chairmanship of Mr. Arthur Cox, has
recommended that a new Companies (Consolidation)
Bill should be drafted, incorporating various changes
to the Companies (Consolidation) Act, 1908,
inter
alia
the following :
(1) A Company should have power by special
resolution to alter its objects.
(2) An up-to-date Table A is appended as a
Schedule to the Report.
(3) Subject to safeguards, companies should be
given power to issue at a discount shares of a
class already issued.
(4) Companies should be permitted to create
and issue shares of no par value.
(5) The requirements in the issue of a prospectus
should be tightened.
(6) Private Companies should by law appoint
at least two directors and a secretary.
(7) In every case in which instances of fraud,
fraudulent trading or breaches of the Com–
panies Acts come to the attention of any
Court,
the Judge or Justice should be
obliged to send a report to the Attorney
General
for consideration by him
and
indictable offences under the Act should be
prosecuted in the Central Criminal Court.
The minimum penalty should be a substantial
minimum fine.
(8) A
special
resolution should
require one
meeting only, and at that meeting a majority
of three-fourths of the members entitled
t6
vote who are present in person or by proxy
and vote should be sufficient. Proxies could
henceforth be appointed to attend and vote
at meetings.
(9) Any member should have the right to insist
that shareholders should vote on the election
of each director individually, unless there
is unanimous agreement by the shareholders
agreeing to an omnibus resolution for the
the appointment of directors.
(10) The payment of directors' remuneration free
of income tax or calculated by reference to
income tax should be prohibited.
(i i) Directors who are in any way interested in a
contract or transaction with the company
must disclose the nature of their interest at
a meeting of the Board.
(12) Directors must disclose to the Board their
holdings of and dealings in the shares and
debentures of the Company and of its sub–
sidiaries
and
parent company,
including
shares held
in
trust by
their wives, or
of which they have a right to Isecome a
holder;
all
this
information should be
entered in a " Register of Director's Share–
holding."