UNITED INTERNATIONAL COLLEGE COMPANY LAW 2014 WEEKLY ASSIGNMENT 5 ANSWER Introduction The instant case concerns meetings and resolutions. The central issues are: 1. Was the board meeting of December 31‚ 2013 validly held? 2. Was the resolution passed at that meeting a valid one? 3. What should Bud do to convene an extraordinary general meeting? Board Meeting of December 31‚ 2013 At the outset‚ it must be emphasized that the validity of a meeting hinges on a number of factors: 1. whether
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STUDIES DEPARTMENT : FINANCE COURSE : COMPANY LAW 2 CIN 2206 LECTURER : MR MAKUYANA QUESTION “By becoming a shareholder in a company‚ a person undertakes by his contract to be bound by the decisions of the prescribed majority of shareholders‚ if those decisions on the affairs of the company are arrived at in accordance with the law‚ even when they adversely affect his own rights as a shareholder
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COMPANY LAW – EXAM NOTES Incorporation and Its Effects S117 - All companies must register with ASIC S118 – All companies must have a Number S119 – Once the company is registered with ASIC‚ the company has a separate legal existence. Separate Legal Entity The separate legal entity notion is shown in Salomon v Salomon where a company shareholder is limited to the amount of share capital they have contributed and they can not be held personally liable for the dealings of the company. This notion of
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corporation 2. Outline the development of company law in England and Australia 3. List the various types of corporation 4. Describe the Corporations Law scheme. 5. Outline the recent reform of company law in Australia 6. Explain the need for the introduction of the Corporations Act 2001 Chapter 1 Historical Development of Company Law Chapter Summary 1 THE CONCEPT OF THE CORPORATION A corporation is a body created by law‚ with its own legal status‚ and continues to
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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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national minority in Croatia is Serbian minority. Writing about this minority is very interesting for me because Croatian had lived with Serbians in one country‚ former Yugoslavia and we had big war which had separated two nations. Despite the war that we had and which has started 1991. and finished 1995.‚many people with Serbian nationality lives in Croatia. The protection of minority rights in Croatia is comprehensively assured by the Constitutional Law on the Rights of National Minorities (CLNM)
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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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with the company. The articles of association are the primary source of the provisions determining these internal relationships‚ and they will form the basis of this question and also be combined with aspects of directors’ duties‚ variation of class rights and s459 of the Companies Act 1985. I will split the issues that arise in this question into two parts. The first part would be to deal with Sheila‚ and to establish whether she can prevent the alteration of the objects of the company. The second
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Company law tutorial question year 3 Semester1. 1."Under the ordinary rules of law‚ a present company and a subsidiary company‚ even a 100 per cent subsidiary company‚ are distinct legal entities and in the absence of an agency contract between the two companies‚ one cannot be said to be the agent of the other. This seems to be clearly established by the rule in Salomon v. A. Salomon &
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1 Sources of Company Law 1.1 W HAT IS COMPANY LAW? For the last century and a half a complex body of legislation called the Companies Acts has declared that if anyone presents to Companies House the documents required to form a ‘company’‚ the Registrar of Companies will issue a Certificate of Incorporation stating‚ like a birth certificate‚ that a new person‚ a ‘limited company’‚ has that day come into being. This robotic person‚ ‘owned’ by its shareholders‚ has no arms or legs‚ nor even
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