A Small Revolution in Corporate Law

Minority shareholders will have access to all records of the company and its subsidiaries, including trade secrets and those with 10% shares will be able to audit the company’s accounts.

The government has sent a bill to Parliament, which will give minority shareholders the same access to documents as that of major shareholders. Thus, not only the minutes of the board meetings will be easily accessible but all commercial contracts, including shareholders' agreements and papers of any entity under the direct or indirect control of the company.

Holders of 10% or more of voting shares will be able to request an inspection of the company’s accounts at the company's expense. An examiner, so appointed, will have the same access to the company’s documents as the official auditor.