Directors’ duties under the 2019 Companies Act of Ghana

The scope of directors’ duties forms perhaps the most important part of corporate governance. This paper considers the trajectory of the regulation of directors’ duties under Ghanaian company law from the Companies Act, 1963 (Act 179) to the Companies Act, 2019 (Act 992). Using the 2017 to 2019 financial institutions’ insolvencies in Ghana as a backdrop, it considers whether the scope, formulation and structure of directors’ duties within the new legislation is capable of promoting corporately-beneficial director behaviour. It also discusses whether the framework is apt to deal with similar lapses in corporate governance marked by reckless and opportunistic director behaviour. It discovers that Act 992 places a greater reliance on specific rules while retaining the largely principles-based regulatory technique adopted for regulating director conduct under Act 179. The overall tenor of the framework of directors’ duties under the new Act points to a firmer legislative view of the serious consequences of reckless director conduct. The paper concludes that the language of the framework regulating director conduct is capable of promoting corporately beneficially director behaviour and is also apt to deal with the kind of lapses in corporate governance which led to mass financial sector insolvencies in Ghana.     

Crime and justice in the context of resource scarcity

This concept paper presents a theory of environmental scarcity developed byHomer-Dixon. Homer-Dixon developed a model to describe the consequences of scarcity for sub-national violence in third world countries. This paper hasfour interrelated purposes. First, it presents the model of scarcity developedby Thomas Homer-Dixon in 1999. Second, it assesses the way in which the scarcity model contextualizes criminal justice and criminology research, andby extension, how research in crime and justice processes can broaden the scarcity model. Third, it applies elements of the model to the United States,a goal that represents a generalization of the model from third-world to first-world settings. Fourth, it presents a particular case, the migrationof African-Americans from the rural South to urban centers in the 1950s and1960s and consequent inner-city violence in the 1960s, that displays manyelements of the environmental scarcity model.     

Bahrain: Central Bank of Bahrain succeeds Bahrain Monetary Agency

The Central Bank of Bahrain came into existence on 7 Septemberand has taken over all the tasks previously conducted by theBahrain Monetary Agency (‘BMA’). The Central Bankof Bahrain and Financial Institutions Law (‘CBB Law’)issued by Decree No. 64 of 2006 gives the CBB strong operationalindependence and a wider range of enforcement powers. The CBBLaw has also replaced the Insurance Law (Legislative DecreeNo. 17     

The Unemployment–Output Tradeoff in Transition Economies: Does Okun's Law Apply?

This paper investigates whether an Okun-type relationship between output and unemployment is taking hold in formerly planned economies as they move towards the market. Using a first-differences variant of Okun's Law, we test for its presence in 25 transition countries divided into groups of ``reform leaders'' and ``reform laggards.'' For leaders, represented by the 10 European Union (EU) accession countries, Okun's Law is detected in both 1991–94 and 1995–2000 periods. For laggards, represented by the remaining group, it is present only for the later period and only when countries affected by wars are removed from the sample. A comparison of unemployment–output elasticities and unemployment levels in EU candidates and EU members themselves indicates that their labor markets might be converging.     

The onset of adult offending: A neglected dimension of the criminal career

The conventional wisdom in criminology is that adult onset of offending is a rare event. Closer examination of the extant literature that use official records, however, reveals that an average of 50 percent of adult offenders initiate offending at age eighteen or older. Although criminological research has investigated late onset offending in adolescence, there is little research on adult onset offending and the correlates of adult offending. Using police contact and interview data from the 1942 and 1949 birth cohort data from Racine, WI, this study investigated the correlates of crime for adult onset and persistent offenders. The results show that employment is the only correlate to affect the probability of adult offending differently for previously delinquent and nondelinquent offenders. This article concludes by highlighting the neglect of research on adult offenders, specifically the large percentage of adult onset offenders, and calling for more research on this topic.     

An Australian Empire Patriot and the Great War: Professor Sir Archibald T. Strong (1876–1930)

Archibald T. Strong, born in Melbourne, was the son of an Australian scholar who went to an academic post at Liverpool. The younger Strong received his secondary and tertiary education in England. There, he became proficient in modern European languages and literature. He initially planned a career in the law, but for health reasons returned to Australia to the Department of English at the University of Melbourne. Prior to the First World War, Strong became prominent in Melbourne literary circles and also a prolific commentator on world affairs. As an early member of the Round Table group in Australia, Strong assessed Imperial Germany as posing an existential threat to the British Empire and hence to Australia's security. The nation's future, he believed, lay in unwavering defence of the Empire. Strong evinced a distinct impatience with fellow citizens, especially on the socialist left, who failed, in his view, to understand the realities of Australia's position in the world and what was at stake in the Great War.     

The sentencing reform act of 1984: A bold approach to the unwarranted sentencing disparity problem

Conclusion In 1984, after years of study and thorough debate, a bipartisan majority of the Congress enacted perhaps the most far-reaching reform of the federal criminal justice system in the history of the United States. The Sentencing Reform Act and the federal sentencing guidelines are now beginning to produce data indicating that the objectives of avoiding unwarranted disparity and invidious discrimination are being achieved.After an uncertain beginning, the guidelines are gaining acceptance by courts and criminal justice practitioners. As one appellate court observed in admonishing lower courts that the guidelines must be respected:We have embarked on a new course. Only time will tell whether the use of the guidelines will result in an improvement over the old system. But unless we follow the spirit and written directions of the guidelines, we will never know if they have been given a fair test. They at least deserve that.Indeed, the bold new approach to sentencing that is being followed today in federal courthouses throughout the United States deserves an opportunity to succeed, given its many beneficial features and the lofty goals toward which the reforms are directed. While ample work remains for the United States Sentencing Commission to monitor and improve the guidelines, indications at this still early date are that the experiment is succeeding.An earlier version of this paper was presented at the fifth conference of the Society for the Reform of Criminal Law, Parliament House, Edinburgh, Scotland, August 5–9, 1990. The views expressed herein are those of the authors and do not necessarily represent the official position of the United States Sentencing Commission.B.A., Davidson College 1964; J.D., University of South Carolina School of Law 1967.B.A., Ohio State University 1974; M.S., Arizona State University 1980; M.A., University of California, Santa Barbara, 1983.B.S., Clemson University 1971; M.S., Clemson University 1975; J.D., University of South Carolina School of Law 1978.