Legality of backdating
Further, chief executive officers and boards face labor market consequences, including forced turnover, pay cuts, and lower shareholder votes at re-election.Indiscretions occur more often at poorly governed firms where disciplinary turnover is less likely.
They did so on the basis that the decisions in question were made in the exercise of a public power under the Act by a statutorily constituted body that qualified as an organ of state and had had a direct and adverse external effect on the applicant rights.
The front page of the New York Times today carries a long news analysis by Jerusalem bureau chief Jodi Rudoren on the Palestinians’ bid for international recognition.
The thrust of the article is that the Palestinians are going too far, too fast.
In raising the query, my mind was exercised by the requirement that the decisions in issue – which were plainly adjudicative in character – had to be ‘of an administrative nature’ within the meaning of PAJA.
That follows from the defined meaning of ‘decision’ in s 1 of PAJA, which, in turn, is a critical component of the statutory definition of ‘administrative action’.