As of March 13, 2018 XXXXXXXXXXABN XXXXXXXXXXCRICOS Code: 00161E National Code: 90458 TEQSA Provider Number: PRV12051 Assessment - 3 Course Bachelor of Business / Bachelor of Accounting Unit Corporate...

1 answer below »
2000 word ineed 3rd jan


As of March 13, 2018 ABN 49 003 577 302 CRICOS Code: 00161E National Code: 90458 TEQSA Provider Number: PRV12051 Assessment - 3 Course Bachelor of Business / Bachelor of Accounting Unit Corporate law Unit Code BO1CLAW314 Type of Assessment Assessment 3 – Individual Assignment Length / duration 2000 words – around 5 pages - not including the title page, executive summary, table of contents and references list. Learning outcomes addressed a) Understand the principles of Australian company law within the context of the prescribed readings. b) Identify and analyse relevant facts, problems and legal issues from a given scenario and develop an argument in response, discussing available options in the context of company law. c) Interpret company law legislation and relevant case law. d) Appreciate the role of compliance and the requirement that organisations and individuals must follow the laws that apply to their industry areas. Submission Date Week 8. Assessment Brief Individual legal research and writing Total Mark 20 Weighting 20% of the unit total marks Students are advised that any submissions past the due date incur a 5% penalty per day, calculated from the total mark e.g. a task marked out of 20 will incur a 1-mark penalty per day. Assignments received after 10 business days will be awarded a fail grade. More information, please refer to View Doc >> Student Policies and Forms by visiting the following link https://kent.rtomanager.com.au/ Assessment Description: We recommend a minimum total of TEN statute and case references per question. Work that includes sources that are not properly referenced according to the “Harvard Referencing Workbook” will be penalised. Refer to the Academic Learning Skills handout on Report writing. Please see Academic Learning skills staff for assistance with this, or any assignment. https://kent.rtomanager.com.au/ As of March 13, 2018 ABN 49 003 577 302 CRICOS Code: 00161E National Code: 90458 TEQSA Provider Number: PRV12051 The assignment statement is as follows: All Mine Pty Ltd is duly incorporated company. Initial financial difficulties meant that after six months incorporation All Mine Pty Ltd still did not have the much needed computers. Lilian is a director of All Mine Pty Ltd. Lillian has not attended any of the board meetings and does not know that the company is close to becoming insolvent. Lillian enters into a contract with Gumpta, the managing director of Greedyas Pty Ltd, to supply the much needed computers to All Mine Pty Ltd for $100,000.00. Gumpta has heard rumours in the market place of the poor financial position of All Mine Pty Ltd, but is very keen to meet his sales target and agrees to the contract. Gumpta is an old friend of Lilian and tells her that Greedyas Pty Ltd intend to merge with another very successful company, Cheap As Pty Ltd, and suggests that she buys shares as quickly as possible as he has done. Six weeks later the computers have been delivered and installed but no payment have been made and All Mine Pty Ltd is insolvent and going into liquidation. The merger between Greedyas Pty Ltd and Cheap-As Pty Ltd has been successful and both Lilian and Gumpta have made $20,000.00 profit each. Have Lilian and Gumpta breached their duties as directors and what are the possible consequences of their conduct? Total (20 marks) Assessment Submission: Submission is required by 4 pm week 8 (ie. 4.pm on Friday 10th August.) Marks will be deducted for late submission - 5% deduction per calendar day late, of the total mark is applicable. Assignments received after 10 business days will be awarded a fail grade. However, consideration may be offered only under medical ground or other extenuating circumstances. You must provide appropriate supporting documentation for consideration to Higher education administration. Other extensions and resubmissions are strictly prohibited. Submission is via Moodle. Please be aware that any assessments submitted in formats other than Microsoft Word will be considered LATE and will lose marks until it is presented in Word format. No paper based or hardcopy submission will be accepted. Our Academic Learning Support (ALS) team are there to help you with understanding the task and all other assessment-related matters. For assistance and to book a one-on-one meeting please email one of our ALS coordinators (Sydney [email protected]; Melbourne [email protected]). For online help and support please click the following link and navigate Academic Learning Support in Moodle. http://online.kent.edu.au/cms/course/view.php?id=437 mailto:[email protected] mailto:[email protected] http://online.kent.edu.au/cms/course/view.php?id=437 As of March 13, 2018 ABN 49 003 577 302 CRICOS Code: 00161E National Code: 90458 TEQSA Provider Number: PRV12051 Corporate Law: Marking Rubric Total:20 Numeric grade Fail<50% pass="" 50%="" to="" 64%="" credit="" 65%="" to="" 74%="" distinction="" 75%="" to="" 84%="" high="" distinction="">85% Research Little evidence of research. Sources are missing, inappropriate , poorly integrated or lacking credibility. Lacks clear link of sources to arguments. Basic and sound research. Basic use of sources to support ideas, generally well integrated, most sources are credible. May be weaknesses with paraphrasing or integration/application . Research is generally thorough. Good use of sources to support ideas, mostly well integrated, sources are credible. May be weaknesses with paraphrasing or integration/ application. Thorough research is indicated. Very good use of sources to support ideas, well integrated, sources are credible. May be minor weaknesses with paraphrasing or integration/application . Thorough research is indicated. Professional use of sources to support ideas, well integrated, sources are credible. Very minor, if any, weaknesses with paraphrasing or integration/application . Information / Content Information /content Lacks coherence; topic is poorly addressed; little analysis. Is generally coherent; topic is addressed; analyses in reasonable depth with some description. There are some inconsistencies and weaknesses with flow. Is coherent and flows well; topic is addressed quite thoroughly; analyses in considerable depth. There may be some inconsistencie s and weaknesses with flow. Is very coherent and flows well; topic is addressed thoroughly; analyses in depth. There may be minor inconsistencies and weakness with flow. Professional work. Argument is very coherent and flows well; topic is addressed thoroughly; analyses in great depth. Very minor, if any, inconsistencies and weaknesses with flow. Critical analysis Material is descriptive and generally poorly sequenced. Material shows some analysis but is generally poorly sequenced. Analysis and sequence is adequate. There is good analysis and presented in a reasonable sequence Professional standard of analysis and sequential structure. Language presentatio n Poor standard of writing. Word limit may not be adhered to. Basic and sound standard of writing; some errors in punctuation, grammar and spelling Good standard of writing; few errors in punctuation, grammar and spelling. Very good standard of writing; very few or minor errors in punctuation, grammar and spelling. Professional standard of writing; no errors in punctuation, grammar and spelling. Referencing No referencing is evident or, if done, is inconsistent and technically Basic and sound attempt to reference sources; may be some inconsistencies and technical errors in style. Reference list is generally complete Good attempt to reference sources; inconsistencie s and technical errors in style. Very good attempt to reference sources; very minor inconsistencies and technical errors in
Answered Same DayJan 01, 2021

Answer To: As of March 13, 2018 XXXXXXXXXXABN XXXXXXXXXXCRICOS Code: 00161E National Code: 90458 TEQSA Provider...

Soumi answered on Jan 16 2021
140 Votes
1
CORPORATE LAW
(FOLLOWING IRAC METHOD— ISSUE, RULE, ANALYSIS AND CONCLUSION)
    
Executive Summary
The first part of the assignment takes into consideration the understanding of the Company Law of Australia in relation to the corporations.
The second part of the assignment deals with the identifying and analysing the various facts and problems. Indeed, legal matters of the given scenario of understanding roles, duties of director and how a director can brea
ching duties are also elaborated in this section of the assignment. Likewise, there is discussion of the arguments developed in response to the given legal matter and the available options in the corporation law of Australia in relation to the case of breaching duties of director.
The third part of the assignment interprets the legislation laws of the Company as per Australian Corporation Act 2001 and interprets relevant case laws in relation to duties of director of companies and how to tackle problem of breach of duties of director.
The last part of the assignment takes into account and details the role of compliance needs, which organizations and individuals must understand, and follow to meet corporate law is discussed.
Table of Contents
Executive Summary    2
Issue    4
Rule    4
Understanding principles of Company Law of Australia    4
Identifying and analysing facts, problems and legal matter    4
Analysis    5
Developing arguments in response    5
Discussing available options in context of company law    5
Interpreting Legislation of Company Law and relevant case law    6
Conclusion    7
References    9
Issue
The given scenario deals with the fact of Lilian and Gumpta breaching their duties as directors of their respective companies. Lilian is the director of All Mine Pty Ltd, which is a duly incorporated company. The role and duties are very important in any organization. As per, Law of Council of Australia (2019) the role of the director of a company is to govern the company on behalf of the members or the shareholders of the company. A statute is the formal written enactment of the legislative power, which governs the country, city or state (Law of Council of Australia, 2019). The statues are the command or the policy of declaration, which, are rules by the legislative departments, decided by courts and regulations issued by government bodies.
Rule
Understanding principles of Company Law of Australia
According to, Law of Council of Australia (2019) Australian law of corporation is borrowed from the company law of UK. As per Australasian Legal Information Institute (2019) the legal framework of Australian law comprises of single and national statute known as Corporation Act, 2001. This statute is administered by Commission of Australian Securities and Investment, which have authority of national regulatory of private proprietary and public companies. As per Hedges, et al., (2017) The Corporation Act or the CA 2001, commonwealth act of Australia deals with laws in relation to business entities in the federal and interstate level of Australia. The CA 2001 deals mostly with companies and other entities like partnerships and managed schemes of investment. The Corporation Act along with the constitution of Australia regulates matters like operation and formation of companies, takeovers, mergers, fundraising and roles and duties of executives.
As per Legg, et al., (2017) Corporation Law Economic Reform Program Act of 2004 (CLERP 9) governs the Australian law of corporate, and it is also known as Audit Reform and Corporate Disclosure Act (Legg, et al., 2017). Licensing obligations of the services of finance and manage conflict interest and address analyst independence. Amendments for fundraising provision are reforms. Changes affected the small shareholders in relation to board of directors’ more than large shareholders.
Identifying and analysing facts, problems and legal matter
Lilian is unaware of the fact that there is financial difficulties faced by All Mine initially which resulted in not having required computers even after six months of incorporation. Lilian has breached the duties of a director as per the Corporation Act 2001 of Australia. Lilian did not even attend the board meetings to understand the cause and effect of the problem of not having needed number of computers after six months of incorporation, which will make his company, All Mine, insolvent. Instead of solving or sorting out the right solution to raise fund, Lilian enters into the contract with Gumpta for meeting the requirement of computers at $100,000.00. Gumpta is the managing director of Greedyas Pty Ltd and is ready to supply computers at the agreed...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here