Legal Aspects of International Trade and Enterprise

Running Head: BUSINESS AND CORPORATION LAW 0
Legal Aspects of International Trade and Enterprise
Westpac Banking Corporation
4/25/2019
HI5015
Student’s Name

HI5015
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Executive Summary
Each organization, the law of that nation is applicable. In addition to domestic law, businesses
are also required to comply with international laws, wherever is applicable. For the preparation
of this report, Westpac Banking Corporation is selected. Domestic as well as international laws
applicable to this company will be discussed in the report in conjunction with its basic
information such as the location of headquarter and number of employees.

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Contents
Question 1........................................................................................................................................2
Question 2........................................................................................................................................2
Corporations Act 2001 (Cth)...........................................................................................................2
Work Health and Safety Act of 2011 3
Taxation Law 3
Banking Regulation 4
Competition and Consumer Act 2010 (Cth) 4
Question 3........................................................................................................................................5
Kyoto Protocol 6
The Australia-United States Free Trade Agreement 6
China-Australia Free Trade Agreement (ChAFTA) 7
ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) 7
References........................................................................................................................................9

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Question 1
The company selected for the preparation of this assignment is Westpac Banking Corporation.
The company is commonly known as Westpac. The company was established in the year 1982
out of the merger of two of major banks namely Commercial bank of Australia and Bank of New
South Wales (Lee and Carter, 2012). The company is an Australian bank, which is active in the
financial service industry and having its headquarters in Sydney, Australia (Westpac.com.au,
2019). The company has its operations across the globe, nevertheless the same is mostly active in
Australia. In order to discuss the customer base of the company, this is to state that the same is
providing its services to more than 14 million people globally. In the year 2018, the company
had 35029 employees in Australia (Ibisworld.com.au, 2018).
Question 2
There are certain legislation frameworks in every country that governs a different kind of
business structures. These laws are there to ensure that a business is working according to the
standard requirements considering ethical and legal factors. In cases of companies, these
frameworks become more crucial as the same outlines duties of directors and officers of the
company and let the stakeholders know about their legal rights. Similar to any other country,
Australia also has many laws, which are applicable to local companies and affect their operations
by regulating them.
Corporations Act 2001 (Cth)