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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...

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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 law
Unit Code BO1CLAW314
Type of Assessment Assessment 3 – Individual Assignment
Length / duration XXXXXXXXXXwords – 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.
) 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 XXXXXXXXXXABN XXXXXXXXXXCRICOS 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
ecoming 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, XXXXXXXXXXGumpta 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
eached 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 XXXXXXXXXX; Melbourne XXXXXXXXXX). 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: XXXXXXXXXX
mailto: XXXXXXXXXX
http:
online.kent.edu.au/cms/course/view.php?id=437

As of March 13, 2018 XXXXXXXXXXABN XXXXXXXXXXCRICOS Code: 00161E National Code:
90458
TEQSA Provider Number: PRV12051
Corporate Law: Marking Ru
ic 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
esearch.
Sources are
missing,
inappropriate
, poorly
integrated or
lacking
credibility.
Lacks clear
link of
sources to
arguments.
Basic and sound
esearch. 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
e
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
easonable sequence
Professional standard
of analysis and
sequential structure.
Language
presentatio
n
Poor
standard of
writing. Word
limit may not
e adhered
to.
Basic and sound
standard of writing;
some e
ors in
punctuation, grammar
and spelling
Good
standard of
writing; few
e
ors in
punctuation,
grammar and
spelling.
Very good standard of
writing; very few or
minor e
ors in
punctuation, grammar
and spelling.
Professional standard
of writing; no e
ors in
punctuation, grammar
and spelling.
Referencing No
eferencing is
evident or, if
done, is
inconsistent
and
technically
Basic and sound
attempt to reference
sources; may be some
inconsistencies and
technical e
ors in
style. Reference list is
generally complete
Good attempt
to reference
sources;
inconsistencie
s and
technical
e
ors in style.
Very good attempt to
eference sources;
very minor
inconsistencies and
technical e
ors in
Answered Same Day Jan 01, 2021

Solution

Soumi answered on Jan 16 2021
153 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
eaching 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
eaching 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
each 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
eaching 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 bo
owed 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
eached 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...
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