Australian corporations law

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  • The Importance Of Asic's Practitioners

    Introduction Australian regulators have a range of roles and powers. Some are independent government bodies, whereas others perform functions in addition to their regulatory roles, such as providing policy advice to government departments and formulating regulation. It is not uncommon for practitioners to have to work with regulators in the course of advising clients. Outlined in this Guidance Note are some practice tips for dealing with regulators in general as well as dealing with selected regulators – the Australian Prudential Regulation Authority (APRA), the Australian Securities & Investments Commission (ASIC) and the Office of the Australian Information Commissioner (OAIC). Dealing with regulators in general Compliance culture ASIC’s…

    Words: 1327 - Pages: 6
  • Negative Effects Of Tv On Children

    Children in today’s society need to be encouraged to watch less TV and use their imagination more. Kids are developing bad habits and with limits they won’t be prone to developing those habits.Young kids need good role models and it is their responsibility to make sure that if they decide to watch shows then they should be appropriate.Television is very harmful to children everywhere in the world and kids are suffering because of TV at a young age. Today in our society young kids ' enjoy…

    Words: 1019 - Pages: 5
  • Shadow Director Case Study

    comply may render the directors or connected persons , including shadow directors, liable to account for any profit or loss to the company. In Smithton Ltd v Naggar , Court ruled that the person cannot be a shadow director since he did not wear the hat of the subsidiary’s director for the protested acts. 5.0 Conclusion This research paper is meant to demonstrate the evolution of laws in relation to shadow directors’ liabilities. Courts are imposing on shadow directors the fiduciary duties…

    Words: 2248 - Pages: 9
  • A Summary Of Contract Law

    transfer due to inside agreement and private operation. The cost of creating is inexpensive, the partnership needed only to apply for the Australian Business Number (ABN) and if it prefers to use the business…

    Words: 747 - Pages: 3
  • Case Study Of Buildco Ltd

    Professor Sharon Christensen and Professor Bill. (2012). lifting the joint venture veil: liability of related entities for misleading conduct of agents engaged by joint venture partners. DuncanAustralian Property Law Bulletin (newsletter), 2012: Volume 26 No 8. 5. Ramsay I and Noakes D. (2001). Piercing the Corporation Veil in Australia. company and securities law journal, 2001: Volume 19 No 250. -------------------------------------------- [ 1 ]. Australia Statute Law, s558v [ 2 ].…

    Words: 1722 - Pages: 7
  • Foss Vs Harbottle Case Study

    Majority principle”, in which the will of the majority of the members of the company should in general, prevails in the running of its business. For example if a majority does not want to take action, because the wrong doing director or directors control the majority votes, a minority of shareholders must show the facts fall within an exception to the rule in Foss v Harbottle. This is one of the most established principles in company law. There are three principles established in the case of…

    Words: 1888 - Pages: 8
  • Lifting Of Corporate Veil Case Study

    Introduction and Statement of Facts The fundamental attribute of corporate personality, from which all other consequences flow if that the corporation is a legal entity distinct from its members. Hence, it is capable of enjoying rights and of being subjects to duties which are not the same as those enjoyed or borne by its members. In other words, it has a “legal personality” and is often described as an artificial person in contrast with a human being, a natural person. However, corporate…

    Words: 1226 - Pages: 5
  • Shifting The Veil Of Incorporation Essay

    Lifting The Veil Of Incorporation and Situation Lifting the veil of incorporation is permitted when the person of the company are using the incorporation of the company to deliberately frustrate a legal obligation. A veil was described as a wall between the company and its shareholders. Hence, once a limited liability company is created as of the separate legal entity principle, the veil of incorporation will be created between the personal assets of the members and the assets of the company.…

    Words: 758 - Pages: 4
  • TARA-G Catering Services

    Disclaimer: All characters and events depicted below are purely fictional. Any resemblance to a real person, living or dead is coincidental. However, this dialogue is a product placement for a real business enterprise. TARA-G Catering Services Characters: -STEVE OWOYOKUN, an undecisive maniac in his late 20s, easily agitated by unforeseen events, considers himself a scholastic democrat with high self-esteem and contemptuous gentility, most of all he relishes high-end delicacies. -MARK…

    Words: 757 - Pages: 4
  • Case: Limiting Personal Liability

    The veil of incorporation limits the personal liability of corporate directors, officers and employees for actions taken by the business. However, business owners can still be liable for business activities if they failed to follow corporate guidelines, commingled assets or acted recklessly (eHow,2015). The courts typically do not look behind the veil of incorporation if there a separate legal entity. But in certain circumstances, the court is willing to ‘lift the veil of incorporation’. The…

    Words: 897 - Pages: 4
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