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Examines the organizational implications of innovative reward structures, with particular reference to gainsharing. Focuses on exploring beyond the impact of compensation on productivity and profitability, which are essential considerations in designing a compensation scheme. Explores the connection between compensation and organizational development – the ways in which incentives and rewards contribute to improved utilization of human resources and capabilities within organizations. Assesses the relationship between gainsharing and organizational development, with particular attention to features such as work design, employment relationships, structure, culture and workplace attitudes and behaviour. Rounds off the discussion with a look at several examples of firms which have introduced innovative compensation schemes, to determine what lessons can be drawn from their experiences. Concludes with an assessment of the strategic calculations that should inform decisions about introducing innovative compensation schemes, especially gainsharing.

The directors of a company owe certain duties to the company itself as a legal entity distinct from its members. They also owe duties to its shareholders in prescribed circumstances, and to a lesser degree to the company's creditors. This paper, inter alia, examines the circumstances in which breach of the duties owed by the directors of the company to its creditors may give rise to criminal responsibility. Central to this analysis is an exposition of the concept of fraud and its associated concept of dishonesty generally and an analysis of the interpretation by the courts of the nature and ambit of s. 458 of the Companies Act. Finally consideration will be given as to how this offence may be affected by the proposals of the Law Commission in its Consultation Paper No. 155 as to the future role of fraud and dishonesty in offences.

WE wish for our readers a Good New Year. Whether it would be appropriate to wish readers a Happy New Year at this stage will depend upon many factors. Even before these words appear in type we may be involved in the more intense struggle for the very existence of our country which everyone seems to think must come sooner or later. The ultimate outcome of that we do not doubt, but while it continues we shall need all the strength, spiritual, mental and physical, that we possess. Nevertheless, it will be a good new year if we remain sensitive to all the needs and opportunities that surround us.

THE new library building has been open for six months now. It is pleasantly situated in an area of new buildings, and occupies a prominent island site just on the edge of the shopping centre. The old library was in the middle of a shopping area, and it has been interesting to note that our removal from that site has had a more considerable effect on the traffic pattern than one would have thought.

Under the auspices of the “People's League of Health,” Professor F. E. Dixon, F.R.S., delivered an address before the Medical Society of London on March 25th. It was, he said, obvious that organic foodstuffs were liable to bacterial decomposition. Something must be done to prevent certain foodstuffs from putrefying. The methods were sterilisation, destroying the micro‐organisms by heat or by preventing their growth by chemical substances. None of the chemical substances prevented the growth of the micro‐organisms which caused food poisoning. Putrefaction, in a sense, was the safety‐valve which indicated the condition of the food, and if they used preservatives they allowed the malignant organisms to grow. In Great Britain they had a Committee which sat in 1901, but nothing was done until 1912, when the Ministry forbade the use of preservatives in milk. France, Germany, the United States, and Sweden had absolutely forbidden the use of boric acid except in certain cases, and all countries had forbidden sulphites in meat. These, if sprayed on meat, masked incipient putrefaction and brought back the bright red colour. The United States allowed the use of benzoic acid, under certain conditions which had to be reported.