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Business and Corporation Law Assignment | Law Assignment

   

Added on  2020-05-28

11 Pages2357 Words29 Views
Running head: BUSINESS AND CORPORATION LAWCorporation LawQuestion & AnswerName of the student:Name of the university:Author note
Business and Corporation Law Assignment | Law Assignment_1
1BUSINESS AND CORPORATION LAWTable of ContentsAnswer to question one..............................................................................................................2Issue:.......................................................................................................................................2Rules:......................................................................................................................................2Application:............................................................................................................................3Conclusion:.............................................................................................................................3Answer to question two..............................................................................................................3Issue:.......................................................................................................................................3Rules:......................................................................................................................................3Application:............................................................................................................................3Conclusion:.............................................................................................................................4Answer to question three............................................................................................................4Issue:.......................................................................................................................................4Rule:.......................................................................................................................................4Application:............................................................................................................................6Conclusion:.............................................................................................................................6Answer to question four.............................................................................................................6Issue:.......................................................................................................................................6Rules:......................................................................................................................................6Application:............................................................................................................................7Conclusion:.............................................................................................................................8
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2BUSINESS AND CORPORATION LAWReference:..................................................................................................................................9Answer to question oneIssue:The main issue of the case is to determine whether AB-Tron Pty Ltd can become ABY-TronLtd according to the Corporation Act 2001 or not.Rules:The subject matter of the case is based on the provision of proprietary company and changingthe type of the company. According to section 45A of the Corporation Act 2001, the privatelyheld companies are known as the proprietary company and there are certain kinds ofproprietary company in Australia1. Considering the operating revenue and gross assets, theproprietary company can be divided into large proprietary and small proprietary. Aproprietary company can be limited by its shares (Pty Ltd) or unlimited with share capital.However, the nature of the company can be changed under the Corporation Act 2001. It hasbeen stated under section 162 of the Corporation Act that in case a proprietary limitedcompany (Pty Ltd) changes its nature and wants to convert to another types of company, itmay have to pass special resolution for the same2. Further, it has been observed that theprovision stated under section 163 and section 164 of the Act is required to be followed3.1Crowston, Kevin. "The bug fixing process in proprietary and free/libre open source software: A coordination theoryanalysis."Business Process Transformation. Routledge, 2015. 85-116.2Hoffmann, Emilia. "Open sourcing proprietary software-Commercial company perspective." (2015).3Corporation Act 2001 (Cth)
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3BUSINESS AND CORPORATION LAWAccording to section 162 of the Act, a proprietary limited company can convert in unlimitedproprietary company or unlimited public company or public company limited by shares4. Further, according to section 163 of the Corporation Act, a company that intends to convertits nature should have to file an application to the ASIC and the application should consist ofall the provisions mentioned under section 163 (2). If all the provisions mentioned undersection 163 has been met, ASIC can change the nature of the company and this provision hasbeen mentioned under section 164 of Corporation Act5.Application:In this case, it has been observed that Ann and Bill operate a Pty Ltd company and theywanted to raise their capital by converting the nature of their company. They can change it ifthey lodge an application by fulfilling all the requirements according to above discussedsections. Conclusion:The type of the company can be changed.Answer to question twoIssue:The main issue of the company is to point out whether ABY Tron Ltd can prevent the formermanaging director from opening a competing on-line electronic company or not. Rules:The present problem is based on the power of the agent exercising the company’s power inorder to make contracts. Further, the general principle of the contract law will also be4Bottomley, Stephen, et al.Contemporary Australian Corporate Law. Cambridge University Press, 2017.5Corporation Act 2001 (Cth)
Business and Corporation Law Assignment | Law Assignment_4

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