Part A (worth 45 marks in total)Research the topic of phoenix activity and respond to the following questions:1. What is meant by the term ‘phoenix activity’? (5 marks)Hint – there are several definitions, please explain the meaning in your own words2. Can phoenix activity be beneficial to society? If so, how? (1+4 marks)2. What purpose is behind phoenix activity? Can there be more than one purpose? (4+1 marks)3. Who benefits from phoenix activity and who loses? Give reasons. (9 marks)5. Is there a section of the Corporations Act 2001 (Cth) that specifically prohibits phoenix activity? If so, which section? (3 marks)6. Are there sections of the Corporations Act 2001 which may be breached by phoenix activity? If so, identify at least two sections. (9 marks)7. Identify (and correctly cite) at least one case in which phoenix activity was considered. What were the main issues and what was the decision? (9 marks)Part B (30+25=55 marks in total)Read and consider several academic articles discussing phoenix activity.8. Do you think prohibiting phoenix activity by creating a phoenix offence, or a phoenix prohibition is likely to be successful? Why, or why not?9. How could an offence or prohibition be structured?
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