Posted: September 23rd, 2022

Applied Corporate Law

Project – Semester 2, 2022

Semester 2, 2022
Applied Corporate Law
Directions
1 Your project ought to handle the Question Assignment(s) and acknowledged studying outcomes by drawing on acceptable studying from Modules 1 to six of the topic supplies.
2 The project is a chance to display your studying, together with concept and its sensible software. To deal with the Question Assignment(s) on this project, you might be to attract from the core supplies within the topic notes, prescribed readings and textbooks, and the sources supplied within the Governance Institute Studying Administration System, however shouldn’t be restricted by these supplies.
three The project counts for 30 per cent of your whole mark on this topic.
four The whole phrase restrict for this project is three,000 phrases. You might be cautioned that there are penalties for exceeding the phrase restrict, specifically a deduction of marks. There will probably be no penalty if the project exceeds this phrase restrict by 10 per cent or much less. Nevertheless, for each 500 phrases or half thereof past the stipulated project phrase restrict of three,000 phrases, ten marks will probably be deducted from the whole of 100 marks accessible for the project. It’s essential to declare the whole variety of phrases (excluding footnote references) in your project.
5 The Project Assessment Rubric offers steering on the standards and efficiency indicators in opposition to which your submission will probably be assessed.
6 Solutions should include unique thought and concepts. It’s essential to acknowledge, by means of correct in-text quotation and referencing, any thought supported by or contrasted with the work of one other writer.
7 The date for submission is Tuesday, four October 2022.
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Applied Corporate Law
© Governance Institute of Australia
Necessary notice to college students
• This project comprises two (2) questions. You might be required to finish each questions.
– Question Assignment 1 is predicated on the state of affairs.
– Question Assignment 2 is unbiased of Question Assignment 1. Don’t check with the state of affairs when answering
Question Assignment 2.
• The usage of headings and sub-headings are inspired.
• Don’t current your solutions in a desk format.
• A element of your whole mark is predicated on educational referencing and integrity.
Marking rubric
Your project will probably be assessed based on the standards and mark distributions acknowledged within the
Project Assessment Rubric:
• Question Assignment 1 (70 marks)
– Information and understanding of the related authorized framework relevant to the information
– Capability to use related company legislation rules, together with administrators’ and officers’ duties, to the actual circumstances
– Capability to use related authorized defences relevant to the information
– Information and understanding of the related penalty regime underneath the Firms Act
• Question Assignment 2 (20 marks)
– Information and understanding of the related authorized framework relevant to the information
– Capability to use related company legislation rules and practices to the actual circumstances
– High quality of study
• Educational referencing and integrity (10 marks)
Topic studying outcomes
Your project will probably be assessed based on the next topic studying outcomes (SLOs):
• Conceptualise information of the theories and rules associated to the administration and regulation of business organisations (SLO 1)
• Give a reasoned opinion on the forms of company buildings accessible to quite a lot of forms of organisations and their appropriateness (SLO 2)
• Critically appraise the authorized and different points arising in advanced situations and apply related legislation similar to underneath the related laws in jurisdiction (SLO three)
• Critically study the influence of the exterior regulatory surroundings on the operation and construction of business organisations (SLO four)
• Show and train acceptable judgment on presenting recommendation on industrial and authorized points in a related kind (SLO 5)
Project – Semester 2, 2022
© Governance Institute of Australia three
Situation
Sam is certainly one of 4 administrators of Golden Mines NL (Golden), an Australian firm which isn’t listed on the ASX or some other securities change. He’s additionally the chief government officer of the corporate.
The opposite administrators are Mary, who’s the chair; and two non-executive administrators, Brook and Wealthy. The 2 non-executive administrators don’t obtain a price for his or her directorship, which that they had foregone in
change for a debt owed to Golden. The board of Golden had written off this debt at a latest board assembly wherein all the administrators participated. The debt was price greater than the charges the non-executive administrators had been able to incomes. Sally is the corporate’s chief monetary officer (CFO).
Kelly, who’s the corporate’s secretary, has not too long ago entered into a private insolvency settlement together with her collectors following a spate of unhealthy luck in failed property offers after the latest property growth
in Sydney. Kelly is very proficient in using expertise and additional, born and educated in New Zealand, finds it very handy to work from her lakeside dwelling in New Zealand.
Sam met Lee, the managing director of Dragon Mining NL (Dragon), at a mining business convention in Perth in early January 2022. Sam had attended the convention as a delegate of Golden. In an informal dialog throughout a morning tea break between Sam and Lee, Lee talked about to Sam that Dragon was promoting a gold mining lease for a mine in Western Australia and was on the lookout for potential purchasers. The worth of gold on the worldwide market on the time was at an all-time excessive and Sam shortly realised the potential worth of this enterprise alternative.
On his return to the Sydney workplace, Sam instantly knowledgeable Golden’s board of administrators in regards to the
alternative to accumulate the gold mining lease for Golden. Sam additionally suggested the board that it ought to
act shortly to have the enterprise proposal permitted to keep away from lacking the possibility of buying the
lease from Dragon. The board had simply reviewed their firm’s monetary statements with the
help of their CFO, Sally. Sally knowledgeable the board of a number of sizeable short-term loans that
had been due for cost in August 2022. Counting on Sally’s data, the board was reluctant to
pursue the enterprise proposal advisable by Sam. Nevertheless, the board did point out that it will
re-examine the enterprise proposal on the subsequent board of administrators assembly scheduled a month later, at
the top of February 2022.
In late January 2022, Lee knowledgeable Sam that a Chinese language firm had provided to buy the gold
mining lease from Dragon. The sale of the mining lease was to be finalised inside a fortnight until
there was a greater provide. With out losing time, Sam instantly telephoned the chair, Mary, of
Golden to cross on the data. Nevertheless, when she obtained this data from Sam, Mary
appeared disinterested and was removed from enthusiastic in her response because of the monetary data
the board had obtained from the CFO over the last board assembly.
Fearing the chance to accumulate the gold mining lease would slip away, Sam instantly resigned
his place as director of Golden. Trusting his personal enterprise intuition, Sam went forward to make a
larger competing provide to Dragon to buy the gold mining lease in his private title. Because it so
occurred, Sam had quite a bit to be glad about his choice and his enterprise acumen, for the gold
mining lease he bought turned out to be very worthwhile for him.
A latest evaluate of the accounts of Golden by their exterior auditor has proven that all the
firm’s mortgage repayments had been really long-term loans, all of which will probably be due in Could 2024. The
Australian Securities and Investments Fee (ASIC) has found that it has not obtained a
copy of the corporate’s annual report for the final two years, and a latest evaluate of the corporate’s
annual assertion by ASIC in August 2022 nonetheless lists Sam as a director of Golden.
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Applied Corporate Law
© Governance Institute of Australia
Question Assignment 1 (70 marks)
Analyse all of the potential contraventions of the Firms Act 2001 (Cth) which will have occurred in
this state of affairs, together with the potential liabilities for such contraventions underneath the Firms Act.
Question Assignment 2 (20 marks)
Notice: Question Assignment 2 is unbiased of Question Assignment 1. Don’t check with the state of affairs when answering
Question Assignment 2.
Assume that the administrators of Golden NL need to change the character of enterprise exercise from mining
operations to the advertising and gross sales of expertise merchandise as a way to benefit from the
booming expertise market.
Advise the board if that is permissible and, in that case, the way wherein this modification in enterprise exercise
could be achieved. In your reply, additionally think about choices accessible to the board ought to the board be
involved that the required majority of shareholder votes to impact change is probably not achieved.
Project phrase restrict: three,000 phrases
Project – Semester 2, 2022
© Governance Institute of Australia 5
Project Assessment Rubric
Standards Excessive distinction 85–100 Distinction 75–84 Credit score 65–74 Go 50–64 Fail zero–49
Question Assignment 1
Information and
understanding of
the related authorized
framework
relevant to the
information
Complete information and
software of data of the
related statutory provisions
contained within the Firms Act
and related case legislation relevant to
the information
Detailed information and
software of data of
the related statutory
provisions contained within the
Firms Act and related
case legislation relevant to the
information
Good information and
software of data of the
related statutory provisions
contained within the Firms
Act and related case legislation
relevant to the information
Sufficient information and
software of data of the
related statutory provisions
contained within the Firms Act
and related case legislation relevant
to the information
Weak information and
software of data of the
related statutory provisions
contained within the Firms
Act and related case legislation
relevant to the information
Capability to use
related company
legislation rules,
together with administrators’
and officers’ duties,
to the actual
circumstances
Insightful and in-depth protection of
related company legislation rules,
together with the efficiency
Assessment of administrators and
officers in compliance with the
particular provisions analysed underneath
the Firms Act
Detailed consideration of the
related company legislation
rules, together with the
efficiency Assessment of
administrators and officers in
compliance with the particular
provisions analysed underneath the
Firms Act
Good consideration of the
related company legislation
rules, together with the
efficiency Assessment of
administrators and officers in
compliance with the particular
provisions analysed underneath the
Firms Act
Some consideration of the
related company legislation rules,
together with the efficiency
Assessment of administrators and
officers in compliance with the
particular provisions analysed underneath
the Firms Act
Little or no consideration of the
related company legislation
rules, together with the
efficiency Assessment of
administrators and officers in
compliance with the particular
provisions analysed underneath the
Firms Act
Capability to use
related authorized
defences
relevant to the
information
Complete Assessment of the
prospects of administrators’ and officers’
profitable reliance on related
authorized defences
Detailed Assessment of the
prospects of administrators’ and
officers’ profitable reliance
on related authorized defences
Good Assessment of the prospects
of administrators’ and officers’
profitable reliance on related
authorized defences

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Tags: Applied Corporate Law