Assignment For Corporations LawHA3021 CORPORATIONS LAW 2018 GROUP ASSIGNMENT ...

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Assignment For Corporations LawHA3021 CORPORATIONS LAW                2018     GROUP ASSIGNMENT       Due date: Week 10    Maximum marks: 20 (20%)  Group report: 15%  Presentation: 5%     Instructions:    This assignment is to be submitted by the due date via SafeAssign on  Blackboard.    The assignment is to be submitted in accordance with assessment policy  stated in the Subject Outline and Student Handbook.    It is the responsibility of the student submitting the work to ensure that the  work is in fact his/her own work. Ensure that when incorporating the works  of others into your submission that it appropriately acknowledged. 2    This is a group assignment. Students are to form groups, with a minimum of 3 and  a maximum of 5 students per group. The assignment consists of 2 parts: a 2,000  word report (maximum) and an 8-10 minutes (maximum) in-class or video  presentation. Instructions: Please read and re-read carefully to avoid mistakes.    1. Research on an Australian case (ideally not more than 10 years old since the  decision by the Court) involving breach of company director’s/officer’s duties  under the Corporations Act 2001 (Cth).    2. Group report: Write a report outlining the following:    a. Case introduction.    b. The duties/responsibilities breached (ex. CA sections 181 or 588G) and  explain why the duties were breached.    c. Discuss and critically ANALYSE the court/tribunal decision and the reason  for the decision in view of the Corporations Act.    d. Where possible and applicable, the relevance of the decision to the  development of Australian corporations law or the impact of the decision  on the operation of companies in Australia.    3. Group report must be submitted via SafeAssign on Blackboard.     4. Group presentation: Present the report in class or video recording. Your  lecturer will advise which is more appropriate.     a. If in-class presentation, all members must present on the day. If video  presentation, groups must show to the satisfaction of the lecturer that all  group members made a reasonable contribution to the group work.     b. Non-compliance with this requirement will result in a failing mark or a fail  will be recorded.     5. Video link must be uploaded to a publicly-viewable video sharing platform (ex.  Youtube, Dropbox, Google drive) and the video link uploaded on Blackboard.      IMPORTANT REMINDERS:     You must email your lecturer your chosen case and list of group members by  week 5. You must obtain approval from your lecturer of your case before starting  work on it. Please note: failure to obtain lecturer approval will result in a failing  mark for the entire group for the group assignment.  3     All group report submissions must be de done online and run through  SafeAssign. No hard copies are to be submitted. Only one group member needs  to submit for the whole group.     Please fill in the “Rubric Group Report” sheet (available in Blackboard under  “Assignments and Due dates) and attach as a cover sheet to your group report  and upload on Blackboard.     Each team member also must also submit to their lecturer a “Peer Evaluation of  Individual Participation in Group Assignment” sheet (available in Blackboard  under “Assignments and Due dates) with their presentation/video.     No submission of either the group report or video presentation link on  Blackboard/SafeAssign is equivalent to non-submission, which will merit a mark  of 0 (zero) for the group assignment.     GROUPS OF LESS THAN 3 AND MORE THAN 5 PEOPLE WILL RECEIVE A  PENALTY OF 10 POINTS.     Late submissions will be subject to Holmes Institute policy on student  assessment submission and late penalties (please refer to subject outline and  Student handbook).     All reports are expected to observe proper referencing in accordance with  Holmes Institute regulations.

Perla · Accepted Answer

Corporation’s Law and Director’s breach of duties
Running Header: Corporations Law – Director Breach of duties
Title: Corporations Law – Director Breach of duties
Student Name and ID
Course Name and ID
University Affiliation
Date: 20/09/2018
Author’s Note
The report is presented as part of the requirements to complete the course work.
Introduction                     
                      Director of the company is one of the key entities that should take the responsibility of the smooth and legal operations of the company. As a matter of fact, director of the organization has to abide all the corporations’ laws which are in place and should strictly oblige all the obligations that he need to deliver as dictated by corporations act (2001) as well as the general law. Some of the major concerns or duties of a director in a company will include functions like to act in good faith in the best interests of the company and for a proper purpose. A director of a company is expected to exercise care and diligence. He should avoid conflicts between the interests of the company and his personal interests. There should not be any scope for the conflicts of interests. Further he should work onto prevent his best the insolvency of the company under any circumstances. In an inevitable need to do solvency, director is expected o report to the liquidator on the affairs of the company, he should help the liquidator by providing all the assistance that is needed from the organization side.  A director has to be in compliance with legal as well as moral and ethical obligations as well while discharging his duties in the organization. In any case if the director of the organization has not performed his duties as per the obligations, he will be prosecuted and will be subjected to appropriate punishment as per the severity of the case. The report discussed in more depth the significance of the director’s duties and the consequences on the breach of the duties in the context of an Australia case. The case selected for discussion is ASIC Vs Sino Australia oil and Gas Company and the breach of the duties of the director are discussed in this context along with the consequences which the director will be facing in this context. Though the most of the scenarios and the occurrences in the current case are involved with foreign directors issues, there is much to do with the local directors as well. They are applicable to the local personnel too. Though the conditions are unique and applicable for a foreign case, the due diligence, responsibility, accountability needed from directors as per the legal obligations is universal. Any contravention of the corporation’s law in this case will result in serious implications and punishments to both the company as well the person in the situation. The following report discusses the same in the given case context.
Details of the case:
ASIC Vs Australian Securities and Investments Commission, in the matter of Sino Australia Oil and Gas Limited (in liq) v Sino Australia Oil and Gas Limited (in liq) [2016] FCA 1488
 Case  introduction:
The current case is a typical incident where in the court found that Sino Australia Oil and Gas limited company’s former chairman has breached his director duties. In the course of the actions performed by him as director of the company, he allowed the company to contravene the corporation’s Act. The actual concerned when Sino issued prospects documents for an initial public offering on ASX which was actually signed by Mr. Tianpeng Shao, the executive director and chairman of Sino.  From IPO, the company has actually raised about $12,829,318. Subsequently after collecting the said amount form IPO, Shao requested the resident directors of the company to transfer all the remaining payment of the float to the parent company which is located in China. However the resident directors of the firm, Mr.

HA3021 CORPORATIONS LAW 2018 GROUP ASSIGNMENT Due date: Week 10 Maximum marks: 20 (20%) Group report: 15% Presentation: 5% Instructions: This assignment is to be submitted by the due date via...

Answer To: HA3021 CORPORATIONS LAW 2018 GROUP ASSIGNMENT Due date: Week 10 Maximum marks: 20 (20%) Group...

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