In its response paper, ‘Company General Meetings and Shareholder Communication’, the institute encourages the steering group to draft legislation broadly enough so that companies will be encouraged to experiment with improving communication through electronic means.
Electronic voting should also be supported by the legislation, the institute said. And the burden of regulation should be a key concern for the group, it concluded.
‘Any additional regulation that is needed for companies whose shares are publicly traded should be put in place through a regulatory body, such as the Financial Services Authority. Regulations set in this way can be more flexible and better able to change in line with technological and social developments,’ said company law committee chairman Malcolm Woodford.
The response also urges the group to take up the issue of how individual investors can access their rights as part-owners of a company. Woodford added the institute was ‘disappointed’ the paper did not address arrangements for passing through corporate governance rights to beneficial investors.
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