The Gazette 1958-61

relates include

to

the definition of " copyright"

is

to

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."

the 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 sole right to produce,