Question 1 James runs a single director proprietary company called Jamboos Pty Ltd a) Explain the rules that Jamboos must operate under and James’ powers under the Corporations Act. In Corporations Act‚ S198E‚ 201F and 202C contain certain provisions that govern the operation of single director companies. These provisions apply whether or not the single shareholder company has adopted a constitution which include: The director may appoint another director by recording the appointment and signing
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‘exercised due diligence to prevent’ (s12.3(3) CCA) the bribe and thus‚ s12.3(2)(b) CCA will apply. In Lennards3‚ the court ruled that the director’s knowledge attributed to the company. This means that GE will be liable for the bribe. As GE is not a physical being‚ s4B of the Crimes Act4 states that instead of imprisonment‚ the company pays a fine as penalty.
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Issue: Whether directors of ABC Bhd had breach their duty as directors. Whether ABC Bhd can persue their claim against any other party related to ABC Bhd. Law: S.4(1) Company Act 1965 (CA1965) states that director includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors of a corporation are accustomed to act and an alternate of substitute director. For example‚ in the case
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Constructive Dividends In Ltr. Rul 20028806‚ the shareholders of a corporation owned‚ managed‚ and operated country club were given discounts for the use of the club’s facilities. The club was located in a community where both non shareholders and shareholders resided. Shareholders received discounts on membership dues as well as other incentives inside the club. Taxpayer requested a letter ruling on whether or not the discounts received constitute as constructive dividends received. The IRS indeed
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Nomads on Notice In "Nomads on Notice‚" anthropologist Daniel Stiles describes the changing lifestyle of the Gabbra pastoralist. They are one of the numerous nomadic societies that are at odds with the industrial world. The unforgiving territory of Northern Kenya is divided among several tribes. They are all very fierce when it comes to defending their territory. This is very similar to what we have learned in class‚ relating to the Warrior Groups. The Warrior Groups are usually young males‚ around
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QUESTIONNAIRE – CTI We have taken this tool Constructive thinking inventory (CTI) from the book “Constructive Thinking The key to emotional intelligence by Seymour Epstein“ As mentioned by the book author Epstein‚ this tool (CTI) is a reliable and valid measure of the constructive and deconstructive thinking in which people normally engage in. In addition the author Epstein claims that “this tool has been administered to large samples of people and constructed according to recognized psychological
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Constructive controversy is a process through which two individuals or groups of individuals seek to reach an agreement when their ideas‚ opinions and information are incompatible to those of the other (Johnson‚ Johnson and Tjosvold‚ 2006). The process is based on a strong cooperative goal and involves “deliberate discourse [of the advantages and disadvantages of proposed actions] aimed at synthesizing novel solutions” (Johnson‚ Johnson and Tjosvold‚ 2006‚ p.71). Participants cope constructively
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Constructive Discharge occurs when an employee’s working conditions are considered to be so bad due to a policy or enforcement of that policy that the employee feels compelled to resign from the employer. This Constructive Discharge claim was filed under the section of Title VII of the Civil Rights Act of 1964 after a work schedule policy change took place. The employee filed this claim post-resignation. This employee has claimed that the change is religious discrimination due to requiring
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business decisions on behalf of companies. Under the present rules‚ directors’ duties are enshrined in the common law rules and equitable principles as well as in statutes such as the Companies Act 1985 as amended by Companies Act 1989. It is considered that these principles lack certainty and are not easily accessible. Quite often‚ directors usually have to take advice in these kinds of areas so that they do not accidentally breach any duty enshrined in the case law. Therefore the government believes
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under the law this contract was not valid. Steve the salesperson was completely liable under the law for entering a contract with an underage minor. As a car company representative there is protocol which must be used when entering into any contract and a major part of protocol is to ensure that both parties are of legal age at the time of sale. Another possibility that may be a remedy for this situation is for Car Company to take legal action against Jeff‟s legal guardians. Under the law any minor
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