1.0 Areas of law Corporate social responsibility (CSR) has long been a touchy issue for governments not just in Australia‚ but around the world as well. Companies in Australia are governed by the corporation’s act‚ which outlines the legal capacity and power of a company. The Corporations Act 2001 (Cth) s 57A1‚ defines a corporation as a separate legal entity‚ that includes any corporate body and unincorporated bodies that may sue‚ be sued or hold property in the name of an office holder appointed
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Question Answers: (d)‚ (a) ➢ Some tips on studying this course Corporations Law is a difficult course. The phenomena giving rise to disputes in the company law context are complex. The corporate law is a mix of statute‚ common law‚ and equity. The typical failure rate of the equivalent course in the Griffith Law School (while I was teaching there) is 30%. The failure rate of the undergraduate Company Law course at Nathan in semester 2‚ 2010 was close to this figure. To pass this course
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CORPORATION LAW INTRODUCTION Definition and attributes of a corporation A corporation is an artificial being created by operation of law‚ having the right of succession and the powers‚ attributes and properties expressly authorized by law or incident to its existence. A corporation‚ being a creature of law‚ "owes its life to the state‚ its birth being purely dependent on its will‚" it is "a creature without any existence until it has received the imprimatur of the state acting
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DOMINGO‚ CPA BUSINESS LAWS THE LAW ON CORPORATION Corporation an artificial being created by operation of law‚ having the right of succession and the powers‚ attributes and properties expressly authorized by law or incident to its existence. Attributes of a Corporation: 1. It is an artificial being •Doctrine of piercing the veil of corporate entity or corporate fiction This is the doctrine to the effect that the separate personality of a corporation may be disregarded if such
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Dignam & Lowry‚ Company Law‚ 5th edition (2009)* ** • Hicks & Goo’s Cases and Materials on Company Law‚ 7th edition 2011** • Mayson‚ French and Ryan on Company Law‚ 26th edition (2010) • Bourne on Company Law‚ 5th edition * Dignam & Lowry‚ Company Law‚ 6th edition (2012) may be published August 2012 ** These books will be used as the module readers Additional reading: The latest editions of: • Gower and Davies’ Principles of Modern Company Law‚ Even if you do not
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AUSTRALIAN CORPORATIONS LAW Question 1 I THE PROCEDURE BY WHICH A COMPANY CAN BE FORMED The formation of a company‚ known as incorporation‚ is achieved ‘by a process of registration controlled by the Australian Securities and Investments Commission.’ A Pre-registration Requirements The pre-registration requirements are: • The selection of the classification and type of company • The selection of a company name‚ this is optional • Completion of the application of registration using
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lifted if the shareholders do not follow the proper procedures. Lifting corporate veil is aim to "see through" the company and let its members take directly liability for the company ’s legal position. The statement points many situations in Corporations Act (“CA”) listed can lift the veil of corporate‚ which is true. Under s588G the directors will breach the duty by failing prevent the company incurring debts when the company is suspected insolvent. And s588FB is aimed to preventing insolvent
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to satisfy the legitimate claims of local creditors. However‚ such company challenged the said order invoking some provisions of its by-laws concerning procedures to be followed in surrendering a stock certificate. Issue: Whether a corporation can refuse to yield obedience to acts of its state. Ruling: No. A Corporation is an artificial being created by law. It is a creature without any existence until it has received the imprimatur of the state. Hence‚ it cannot refuse to yield obedience to
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Certificates to the Ancilliary administrator. Benguet refuses to obey the order of the CFI of Manila on the ground that it is in violation of the Corporation By Laws. Issue: Whether or not the Benguet Consolidated Inc is covered by the orders of the COURT. Held: The Supreme Court Held that “a corporation is an artificial being created by operation of law‚ it owes its life to the state‚ its birth being purely dependent on its will”. It is logically inconceivable therefore that it will have rights
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Corporations and Business Associations Law When companies are suffering from failed business and insolvency‚ the banks as the financiers for them and other creditors may try to get involved into the management and operations of the business in the way of giving advice and providing assistance to the directors of those distressed companies so as to protect their interests as much as possible. But as a result‚ the banks and creditors might be at a risky situation where they could be liable as shadow
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