Use of the Iosipescu shear test for measurement of shear properties of unidirectional laminae has been studied both analytically and experimentally. The intralaminar shear strength and shear stiffness of glass-reinforced polyester material have been measured using specimens with two different fibre orientations. Acoustic emission has been monitored and a fractographic study carried out. A finite element analysis has been conducted to evaluate the stress distribution within the specimen, assuming isotropic and orthotropic elastic properties of the material. There is a complicated stress distribution in the specimen, particularly in the vicinity of each notch root, depending on the elastic properties of the composite. The shear stress region in the specimen gauge section is almost uniform, though small normal compressive stresses exist. The experimental results have shown that the measured shear modulus does not depend on reinforcement orientation. However, it has been observed that different failure modes occur in each case. This results in a change in apparent shear strength of the composite with fibre orientation. Some explanations of these differences have been found in a detailed analysis of the local stresses at the roots of the notches. It is considered that the presence of tensile stresses in this area is primarily responsible for the apparent reduction in the shear strength.