Question 1
a) Use the web site of the Australian Securities and Investments Commission (ASIC) and (if necessary) other legal sources to answer the following questions.
(i) What isthe difference in purpose between anACN and an ABN?
(ii) What types of entities are entitled to an ABN and how does this differ from the entities that receive an ACN? (1 mark)
(iii) When setting up a company, how do you ensure that your preferred name for the company is available? (1 mark)
(iv) In what circumstances will the name be unavailable?
(v) What steps are required to change a company name?
b) Search the register of enforceable undertakings and locate the enforceable undertaking of Stuart Hamilton Camerongiven in October 2011. Use the information in the undertaking and relevant legislation (if necessary) to answer the following questions using your own words.
(i) What legal powers was ASIC enforcing when it became involved in this matter?
a) Use the web site of the Australian Securities and Investments Commission (ASIC) and (if necessary) other legal sources to answer the following questions.
(i) What isthe difference in purpose between anACN and an ABN?
(ii) What types of entities are entitled to an ABN and how does this differ from the entities that receive an ACN? (1 mark)
(iii) When setting up a company, how do you ensure that your preferred name for the company is available? (1 mark)
(iv) In what circumstances will the name be unavailable?
(v) What steps are required to change a company name?
b) Search the register of enforceable undertakings and locate the enforceable undertaking of Stuart Hamilton Camerongiven in October 2011. Use the information in the undertaking and relevant legislation (if necessary) to answer the following questions using your own words.
(i) What legal powers was ASIC enforcing when it became involved in this matter?
(ii) What negligent and unlawful conduct of Mr Cameron led to ASIC’s intervention?
(iii) What was the outcome of ASIC’s intervention?
Question 2 4 Marks
Use the web page of the Australian Securities Exchange (ASX) and the Corporations Act 2001 to answer the following questions in your own words:-
(a) In what exceptional circumstances is a publicly listed company NOT required to make continuous disclosure of information which would materially affect its share price?
(b) Summarisethe requirements in the listing rules for proxy forms?
(iii) What was the outcome of ASIC’s intervention?
Question 2 4 Marks
Use the web page of the Australian Securities Exchange (ASX) and the Corporations Act 2001 to answer the following questions in your own words:-
(a) In what exceptional circumstances is a publicly listed company NOT required to make continuous disclosure of information which would materially affect its share price?
(b) Summarisethe requirements in the listing rules for proxy forms?
For Question 3 you are expected to access, interpret and analyse legislation related to the regulation of companies in Australia.
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Question 3
In this question you should research the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001(ASIC Act) to identify offences.
a) What conduct is involved in securities hawking?
b) Susan is a supplier of financial services. She advertises that if customers purchase her services, they will be entitled to a free book on profitable investment strategies. She actually has no such books, and intends to tell customers that stocks have run out. What offence has she committed? Specify the section and how the section has been breached.
For Question 4 you are expected to access, interpret and analyse a recent law caseusing its primary record (the published law report).
Question 4
At the website of www.austlii.edu.au, locate the New South Wales Supreme Court decision in the Application of Marilyn Joy Cottee; Estate of Gwenyth Shirley Smith [2013] NSWSC 47, and answer the following questions, using your own words for longer answers.
(a) How many beneficiaries did the trust have and how many were under 25 years of age?
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Question 3
In this question you should research the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001(ASIC Act) to identify offences.
a) What conduct is involved in securities hawking?
b) Susan is a supplier of financial services. She advertises that if customers purchase her services, they will be entitled to a free book on profitable investment strategies. She actually has no such books, and intends to tell customers that stocks have run out. What offence has she committed? Specify the section and how the section has been breached.
For Question 4 you are expected to access, interpret and analyse a recent law caseusing its primary record (the published law report).
Question 4
At the website of www.austlii.edu.au, locate the New South Wales Supreme Court decision in the Application of Marilyn Joy Cottee; Estate of Gwenyth Shirley Smith [2013] NSWSC 47, and answer the following questions, using your own words for longer answers.
(a) How many beneficiaries did the trust have and how many were under 25 years of age?
(b) What relationships did the testator have with the trustees and beneficiaries?
(c) Why did the trustees apply to the court, even though they had an absolute discretion under the trust?
(d) Why was it wise to get the solicitor to interview the children and swear an affidavit?
(e) What was the main legal point the Court had to decide before giving the plaintiffs what they sought in their application?
(f) Why was the mortgage proposed?
(c) Why did the trustees apply to the court, even though they had an absolute discretion under the trust?
(d) Why was it wise to get the solicitor to interview the children and swear an affidavit?
(e) What was the main legal point the Court had to decide before giving the plaintiffs what they sought in their application?
(f) Why was the mortgage proposed?
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