A Case Study Introduction Directors control and manage the company. They are in a powerful position and it is their duty to practice their power within the legal means, though it is easy for them to extensively undergo misuse of power, either by mismanagement and fraud. The Australian Law recognises the fact that companies are vulnerable and abused by the directors and officers to a greater extent. To control and make everyone accountable and to minimise the risk of illegal and wrongful deeds particularly at the director's end, the laws have been established to strictly govern the duties of the officers and directors.
The answer is Corporations Law in Australia If you are a practitioner seeking to refresh your knowledge of company law, I recommend this book. Proctor Qld Law SocApril "The authors are all senior and respected academics who specialise in commercial and corporate law.
There are 25 chapters examining both traditional and more topical aspects of corporations and securities law.
For example, the chapter on audits and auditors examines operational factors associated with qualification for and registration as a company auditor, the duties and obligations of auditors, and appointment and removal of auditors.
This chapter includes a consideration of three possible reforms of the law of auditors liability including proportionate liability, capped liability and limited liability by incorporation. A chapter devoted to corporate governance also provides a thought provoking analysis of current issues and trends.
It examines the role of the board of directors with respect to corporate governance, including consideration of the special position of the chairman and of executive, managing, non-executive and nominee directors.
The role in corporate governance of the general meeting and of institutional shareholders is also considered. Because of its currency and its thorough consideration of complex issues from both policy and practical perspectives, this book can be expected to be popular among practitioners seeking to update their knowledge of corporations and securities law as well as those commenting on or advising on corporations and securities law.’ C The Objective of the Section of the Corporations Act ‘At common law, if a pre-registration contract was not performed neither the company nor the promoter were liable.
The innocent other party was left with an unenforceable contract’, an example is the case Black v Smallwood. The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis.
RAND focuses on the issues that matter most such as health, education, national security, international affairs, law and business, the environment, and more. Leading commentary and analysis of Australian and international corporate and securities law and the relevant regulatory regimesAbout the JournalThe Company and Securities Law Journal (ISSN: ) is well-known for its high-quality articles written by leading specialists in corporate, securities and takeovers law.
In contrast to this UK model, Australia’s regime of statutory directors’ duties under the Corporations Act explicitly preserves the operation of directors’ duties at general law, although the contours of the general law and statutory duties are not necessarily the same.
for the corporation, its creditors (a statutory requirement at some times) its employees, maybe environmental or consumer matters under other legislation? There is no “ethical judgement rule”, which might justify sacrificing profit because of a concern is cautious about possible infringement of the Australian Consumer Law.
Australian Government Federal Register of Legislation Skip to Content. Search An Act to make provision in relation to corporations and financial products and services, and for other purposes: This compilation is affected by retrospective amendments.
Please see the Treasury Laws Amendment ( Measures No. 3) Act (Act No. 75 of.