HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HA3021 Corporations Law Individual Assignment T1 2021 Assessment Details and Submission Guidelines Trimester T1 2021 Unit Code HA3021 Unit Title...

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HA3021 Corporations Law Individual Assignment T1 2021
Assessment Details and Submission Guidelines

Trimester T1 2021
Unit Code HA3021
Unit Title Corporations Law
Assessment Type Individual Assignment
Assessment Title Case Study on Corporations Law
Purpose of the
assessment (with ULO
Mapping)
The purpose of the Individual Assignment is to provide students with an opportunity to
demonstrate their level of learning of the various key concepts taught in the unit and
apply them in analysing and answering two case problems by citing the relevant legal
ules and cases and applying these to the facts of the case. In this Individual Assignment,
students are required to:
• Reflect critically on the legislation and the relevant case law relating to the
different business structures, in particular corporations and partnerships, and
apply legal principles to real case situations. (ULO 2)
• Analyse the incorporation process and explain the laws and regulations that
govern the different forms of legal entities including the significance of the
concept of separate legal entity. (ULO 3)
• Analyse the roles and duties of directors in the management of the company
and the and responsibilities of members in a company. (ULO 4)
Weight 40% of the total assessments
Total Marks 40%
Word limits Answer plan – 1,000 words
Assignment draft – 2,000 words
Final Assignment report – 2,500 words with full academic references
Due Dates Week 5 – Answer plan due
Week 6 – Assignment draft due
Week 9 – Final Assignment due
Weeks 10 – 13: Individual Oral Presentations
Submission
Guidelines
● All work must be submitted on Blackboard by the due date along with a completed
Assignment Cover Page.
● The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm
margins on all four sides of your page with appropriate section headings and page
numbers.
● Reference sources must be cited in the text of the report, and listed appropriately
at the end in a reference list using the AGLC style.





Page 2 of 9
HA3021 Corporations Law Individual Assignment T1 2021
Assignment Specifications

Purpose:
The purpose of the Individual Assignment is to provide students with an opportunity to demonstrate
their level of learning of the various key concepts taught in the unit and apply them in analysing and
answering two case problems by citing the relevant legal rules and cases and applying these to the
facts of the case.
Instructions: Please read and re-read carefully to avoid mistakes.
Individual Report
1. The individual assignment is about business structures and director’s duties. There is only one
main question to be answered but
oken down into four (4) sub-questions.
2. The individual assignment is worth 40% of the total marks in this unit.
3. This individual assignment comprises three separate submissions: an answer plan, an
assignment draft and a final assignment. Each submission is worth separate marks.
4. Answer plan: you are required to submit an answer plan, which outlines your answer, including
the relevant sections of law and cases that you plan to cite in support of your answer.
● Due date: Week 5
● Weight: 10% of the total individual assignment marks
● Length: 1,000 words

5. Assignment draft: you are required to follow your answer plan and produce a written draft of your
answer. The answer must cite relevant sections of law and cases that you specified in your answer
plan. In addition, your draft must include a list of academic references that you have researched
for your assignment.
● Due date: Week 7
● Weight: 10% of the total individual assignment marks
● Length: 2,000 words

6. Final assignment: you are required to submit the final version of your assignment. The final version
must include an official Holmes Institute cover sheet, as well as academic referencing (either in-
text or footnotes) and a full Reference List.
● Due date: Week 9
● Weight: 20% of the total individual assignment marks
● Length: 2,500 words


Page 3 of 9
HA3021 Corporations Law Individual Assignment T1 2021
7. Word count limits are strictly enforced. A deduction of two (2) marks will be imposed for every 50
words over the word count for either part of the report. Anything over the word count will not be
ead by your lecturer.
8. The total word count for the report must be clearly written on the cover sheet of the assignment.
A paper will not be marked if the word counts are not written on the cover sheet.
Adapted Harvard Referencing

Holmes has now implemented a revised Harvard approach to referencing:

1. Reference sources in assignments are limited to sources that provide full-text access to the
source's content for lecturers and markers.
2. The Reference list should be located on a separate page at the end of the essay and
titled: References.
3. It should include the details of all the in-text citations, a
anged A-Z alphabetically by
author surname. In addition, it MUST include a hyperlink to the full text of the cited
eference source.

For example:

P Hawking, B McCarthy, A Stein (2004), Second Wave ERP Education, Journal of
Information Systems Education, Fall, http:
jise.org/Volume15/n3/JISEv15n3p327.pdf
4. All assignments will require additional in-text reference details, which will consist of the
surname of the autho
authors or name of the authoring body, year of publication, page
number of content, the paragraph where the content can be found.

For example:

"The company decided to implement an enterprise-wide data warehouse business
intelligence strategies (Hawking et al., 2004, p3(4))."



Non - Adherence to Referencing Guidelines

Where students do not follow the above guidelines:

1. Students who submit assignments that do not comply with the guidelines may be required to
esubmit their assignments or incur penalties for inadequate referencing.
2. Late penalties will apply per day after a student or group has been notified of resubmission
equirements.
Students whose citations are identified as fictitious will be reported for academic misconduct.
http:
jise.org/Volume15/n3/JISEv15n3p327.pdf
Page 4 of 9
HA3021 Corporations Law Individual Assignment T1 2021
Individual Oral Presentation
You are required to present your answers in a short oral presentation that will be delivered during
the live interactive online tutorials. Presentations will run from Weeks 10 to 13. Your lecturer will
schedule the particular tutorial when you will present. Each oral presentation will last for five (5)
minutes and will involve you
iefly presenting the answer to the question and answering questions
posed by your lecturer.
● Presentation dates: Weeks 10 to 13
● Weight: 10% of the total mark in this unit
● Length: 5 minutes
The individual oral presentation is an integral part of the assessment schedule in this unit. Any
student who submits a written assignment but does not do an oral presentation in class will not have
their assignment marked and their mark released until a presentation has been completed.
Important Reminders:
● All assignment submissions must be de done online and run through SafeAssign. No hard copies
are to be submitted.
● You must attach as the official Holmes Institute cover sheet to your assignment and upload on
Blackboard.
● The assignment must be submitted via SafeAssign on Blackboard and show a similarity
percentage figure. Any assignment that does not show a SafeAssign similarity percentage will not
e marked and be required to re-submit.
● Late submissions will be subject to Holmes Institute policy on student assessment submission
and late penalties (please refer to subject outline and Student handbook).
● All reports are expected to observe proper referencing in accordance with the Australian Guide
to Legal Citation (AGLC). A copy of the AGLC has been posted in the Week 2 tutorial folder.
You may also download a copy for free via this link:
https:
law.unimelb.edu.au/__data/assets/pdf_file/0005/3181325/AGLC4-with-Bookmarks-1.pdf
● In general, for written reports, a SafeAssign similarity percentage of 25% or below is acceptable.
Regardless of the similarity figure, all assignments must use in-text citation and observe proper
eferencing rules.


● All assignments are expected to strictly follow Holmes Institute’s Academic Conduct and Integrity
Policy and Procedures. A copy of the Policy is available on the Holmes Institute home page.
(About Holmes > Policies) This policy is also explained in your Student Handbook.
● Plagiarism and contract cheating in any form will not be tolerated and will have severe
consequences for the students found committing the same, including receiving zero (0) for the
entire assignment and possible failure in the unit.
https:
law.unimelb.edu.au/__data/assets/pdf_file/0005/3181325/AGLC4-with-Bookmarks-1.pdf
Page 5 of 9
HA3021 Corporations Law Individual Assignment T1 2021
● Any assignment that is found to contain fake or bogus references or references that are clearly
i
elevant to the subject matter of the assignment will receive an automatic zero (0) mark.
● You are required to turn on your video camera and show your face during the individual oral
presentation. You are expected to wear appropriate business attire during the conduct of your
individual presentation.
Assignment Question

• Read the questions below on Business Structures and plan your answers.
• Prepare an answer plan for your answer. Using your answer plan, you are then required to draft
your answer and later finalise your answer.
• Follow the word counts specified for each individual component of the individual assignment.
• A minimum of 6 genuine and relevant Australian legal references are required for this part of the
eport. Examples of relevant references for this question include the Corporations Act 2001 (Cth);
the Australian and Securities and Investment Commission’s (ASIC) website (www.asic.gov.au),
the website of the Australian Business Register’s (ABR) website (www.a
.gov.au).
• The full citations for all sources cited in your answer must be listed in a Reference list at the end
of your answer.
• In addition, any online sources cited in your answer and listed in your Reference List must include
a valid hyperlink that allows access to the full text of the source.
Congratulations! You have secured a graduate position with a large firm of corporate
advisers. Hannah Finley,
Answered Same DayMay 18, 2021HA3021

Solution

Neha answered on May 18 2021
56 Votes
Russel Ro
ins is a sole trader. He runs a vintage second hand clothing business for 5 years now in the name Pinnaclewear. His customers include both B2B and B2C clients spread both in local and overseas. His turnover has grown from $285000 to $3million per year. Russel plans to expand his business by diversifying into food and catering.
The company has 8 employees and Russel wishes to buy a building to operate Pinnaclewear from, as they operate in a rented building cu
ently.
Russel’s wife Megan Mays is a sales and marketing manager in the city for a financial services company. She is on a total salary package of $155,000. She also owns their family home worth a market value of $1.25 million. The family home has a mortgage of
$561,000. Russel and Megan’s share portfolio is worth $179,547.00, the calculation is given below.
    SHARE PORTFOLIO
    Shares
    Initial value
    Cu
ent Value
    No of shares
    Total Value
    Telstra shares
    $3.30
    $3.09
    1000
    $3,090.00
    Commonwealth Bank
    $10.90
    $61.00
    500
    $30,500.00
    Blue chip Australian shares
    -
    -
    -
    $145,957
     
     
     
     
    $179,547.00
Russel owns a VW Transporter Van worth $18,000. Russel bought computers, desks, other office furniture and shelving for the business which cost him approximately
$23 000. Their cu
ent value in the financial accounts is $8,650. Russel has $190,568 in superannuation. The budget for the new year shows expected sales of $3,764,000 and a net profit of $637,979 for Pinnaclewear.
Russel being a sole trader is in full control of his business. He can take decisions without and interference. He enjoys lesser tax obligations and also lesser financial requirements. He is not required to get is annual review done by Australian Securities Investment Commission (ASIC). All the requirements of Corporations Act, 2001 does not apply to him. He is not required to get various registrations done and also does not need to meet the financial record maintenance requirement of the Act. He is not required to pay tax on his sole trade’s name, but his own. He is also not required to pay corporate tax and enjoys various taxation benefits. But, Russel is also personally liable for any losses in the company. He will have to pay back the liabilities from his personal assets if the company gets into losses. He is legally obliged and at high risk. A sole trader is supposed to pay the debt of the company from his personal assets. The sole trade structure in business gives the ability to enjoy the business’s full control. But it also puts whole of the risk on the individual. The personal liability can be considered as a big risk in terms of risk and return acumen. The legal responsibility of all the acumen of the business, good or bad, risks and returns, lies of the head of the sole trader. You are the sole owner of your company.
Violet, being an accountant suggested Russel to go for Company as his business structure. Russel’s cu
ent business is profitable. But he wants to expand and diversify in near future. He plans to get into food and catering business. This is an opportunity but also has a risk attached to it. Russel, taking into consideration his future plans for his business and his family’s personal condition, should convert his business structure as a Compnay. He should convert into a company to stop being personally liable for his businesses performance. He can also enjoy lower tax rates enjoyed by Companies. He can take the benefits of various government policies and also can attract more and more investors making sure to keep ownership in his hands. He can also enjoy legal benefits in case of problems between business parties, employees and any other stakeholder. Violet is co
ect to suggest that Russel should set up a company to run the business, so that he can enjoy the returns of his business with lesser risk. He can have control over the business but also is not personally liable in case his cu
ent or future venture does not hold what he has in mind. To be able to pay tax and enjoy all the legal benefits a company enjoys and also maintains a personal and individual’s entity. The formation of company will make the company a separate legal entity. It will have its own legal existence and perpetual identity separate from its owner. But to create a company Russel would need atleast two people including him owner and the director. If he is able to meet the required number of individuals, he can start a company and take all the benefits.
Given...
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