Company directors play a key role in any company and thus in the contribution which business makes to the economy and to society. Reform of company law is being actively debated. This places under the spotlight such questions as should directors' duties be made clearer? Should directors only owe duties to their shareholders? Are directors adequately monitored, for example in corporate activities, pay and political donations? The object of the lecture is to review areas of current debate and identify areas where changes are occurring or may occur.

The lecture considers the subject of arbitration as a means of determining otherwise irreconcilable disputes. Although arbitration may be required over a wide range of subjects, the lecturer's considerable experience has been in the area of construction. He outlines how arbitration was carried out in the 1950s and the relationship between arbitrators and arbitrations and the courts. Since that time there have been radical changes to improve the system, and these are described, particularly the various Acts of Parliament relevant to the subject. The lecturer concludes that currently construction arbitration is in good heart, but that too much paper is still being generated.