BLW21/MT564 MODULE QUESTIONS Study Period 1 2011 INTRODUCTION It is only possible to cover a limited number of questions in each seminar. The questions are intended to reflect major principles where possible, but in some weeks it has been necessary, due to limited space, to omit questions on important issues. MODULE ONE QUESTION ONE In order to properly work with this unit you need to become proficient in working with the Corporations Act (CA). To commence that process please locate the following references: (a) “Auditors” in the index (b) The definition of “financial records” under CA s9 (c) CA s117 (d) CA s124 …show more content…
Julie makes inquiries and discovers that Bob Marley is a close friend of the Indahouse chairperson Al Gee. She also learns that the company’s constitution contains a rule that provides “the chairperson of the company may, as they see fit, order any member to transfer their shares to any person at a fair market price”. Jimmy, another shareholder, discovers that as the company requires more funds the directors plan to issue a parcel of shares to a single investor without the members being able to participate. Julie does not wish to sell her shares. Is she bound to observe the order she has received? Are the directors correct in issuing the shares, as they plan? QUESTION FOUR Spears Ltd has a constitution that does not repeal any of the replaceable rules of the CA but does provide for two additional matters: (i) an objects clause provides that “the company’s activities are restricted to the recording and publishing of music”. (ii) another clause provides: “Jackson White is to be the company's Senior Music Producer at a salary of $200,000 pa”. The directors of Spears Ltd have decided to ignore the constitution and to carry out the following actions: • to execute a contract with Little Brother Pty Ltd for the release of films on DVD •
S198A(1): The board of directors has discretion as to when and how to issue shares
Members are able to sell their shares at any time to another person without having to obtain permission from the other members.
GSG issued an ultimatum to the TideeKleen board of directors. If the Board does not adopt either of Options A or B, Goode will seek to have the directors replaced by his own nominees at the next Annual General Meeting of shareholders. In the alternative, he might seek to acquire a controlling interest in the company, take it private, and impose option A.
Inter-Faith Food Shuttle (IFFS) is a $14.5 million nonprofit that uses a holistic approach to address and end hunger in the Research Triangle Region of North Carolina. IFFS believes that hunger is an issue that can be solved by, “creating sources of healthy food in every low-income neighborhood and grow opportunities for people to provide for themselves by learning job skills or growing their own food.” The pillars of this approach are feeding, teaching, and growing. (IFFS, 2016)
To the extent of prevention of corporate failure, I argue that three ASX principles and recommendations could halt the demise of Dick Smith. Firstly, the 2nd principle which is “Structure the board to add value” by structuring the board with a majority of independent directors would prevent CEO dominance because some suggest that independent outside directors can reduce the influence of dominant individuals (ASX, 2014, p. 17). In accordance with Gallagher and Bennie (2015, p. 20), the independent directors are likely to focus on the company’s objectives and not to make decision relying on others. Furthermore, an addressing of independent directors would reduce the reliance on management, and create the effectiveness on monitoring (Dechow et al. 1996 cited in Christensen, Kent, and Stewart (2010)), as well as capability to lessen the conflict of interest between managers and shareholders (Hardjo & Alireza, 2012, p. 4). Thus, DSE’s board would be more active to monitor the CEO’s performances because independent directors pay attentions to the interest of company (Gallagher & Bennie, 2015, p. 20) and shareholders (Hardjo & Alireza, 2012, p. 4)
In this situation, there was an incident where the three board of directors have had a personal interest in company and they themselves agreed to buy shares of stock of Green Med because they believed that Cheap Pharma cannot afford to buy the share of stock
How do the major theories of child development (known as the ‘grand theories’) explore the importance of social experiences?
their right to receive cash at precisely the time that Arley's stock is low, which is also when the firm
(c) Any other damages proximately caused by the failure of the person performing the services that constitute the unauthorized practice of law to have the license to practice law in this state that is required to perform the services;
In 2002 the Hershey trust company board decided to sell school shares from Hershey stock. The board wanted to sell the 33% of Hershey shares at premium and reinvest the money in another company to make profit for the school. The board was responsible to oversees the investment and make sure the school was doing fine. Looking on this issue as financial personnel the board decision was better to sell stocks at premium and reinvest in another company.
In literature, tone is the attitude a literary works takes toward it subject and theme (Booth 147). The tone in the stories, "The Road Not Taken” and "Hills like White Elephants" are very decisive, strong tones toward the subject in each poem. In the story, "The Road Not Taken" the traveler has decided to embark down the path that is less traveled by others. Then in the story, "Hills like White Elephants" the man and the woman are trying to decide if they should have an abortion or not.
“Beauty is the sole legitimate province of the poem” Poe, Edgar Allan. The Philosophy of Composition. 1846. The name Poe often brings to mind tales of horror and mystery, but this Poe was also a writer of sophisticated poems, capable of extreme poetic beauty within a dark genre of writing. Poe never lived the happiest of lives, but his writing is extraordinary, both for its execution, and for the sheer elegance of the words which he found to write upon the page. Death is among one of the recurring themes which Poe explored. Dark and stormy compositions focussed around such ideas serve only to illustrate Poe’s writing style. One can see that such a horrid subject is clearly derived from the writer’s distraught life which would almost appear to create a trail of death in the writer’s footsteps. That being, Poe discovered the secret to writing. Edgar Allan Poe chose to write in an incredibly dark area of literature, but the mastery with which he explores such subjects is applicable to writing in the whole of literature.
Meaning decisions should not be on selfish acts. If someone from the boards wants to make a transaction like Jimmy did, then that person is required to present reasonable details of the transaction and the interests of the transaction to all board members. Jimmy desecrated his right of fiduciary duty. Yes, he is the CEO of News Corp and did not act in the best interest of the organization. He also failed to divulge the real value of Television Inc. to the board and he also did not release the relationship between him and Johnny to the board. This act is an absolute breach of the fiduciary duty that he holds to the
4. ASSIGNMENT. Unless this contract specifically provides otherwise, Producer may assign this contract and the Author’s services stated on this contract to any successor to Producer’s franchise or to other Producer in the industry. Author must report to the new assignee Producer promptly upon being informed of the assignment of this contract and will faithfully perform her services under this contract. The assignee Producer will pay Author’s necessary travelling and
This Marketing and Sales Agreement (hereafter referred as “Agreement”), dated as of ___________, is entered into between The Berkley Group (hereafter referred as “Berkley”), whose business address is 2626 E Oakland Park Blvd., Fort Lauderdale, FL 33306, and ____[Bill Rauer]___(hereafter referred as “Rauer” and together with “Berkley” as “Parties”, and each as “Party”), whose business address is _________.