Report on Australian Company Law
Added on -2019-09-23
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Running Head: COMPANY LAWCOMPANY LAW
COMPANY LAW2Executive summaryThe current report is about Australian Company Law. The statue of the company law is regulated by the national authority namely Australian Securities and Investments Commission (ASIC). The current study has provided advice to the Flywell Ltd to raise funds for business expansion. This advice can support the organization to gain competitive advantage in Australian market. With the help of this particular study, it can be identified thata company has certain liabilities and rights in terms of specific business aspect. The study proves to be elementary in terms of defining the upcoming financial strategy of Fly well Ltd. to remain competent in the market.
COMPANY LAW3Table of ContentsIntroduction................................................................................................................................4Question 1..................................................................................................................................41. a) Fundraising obligation under Corporation Act..................................................................4Question 2..................................................................................................................................8a. Rights available to the investors of the company...............................................................8b. Rights and liabilities of the company.................................................................................8c. Rights and liabilities of the directors of the company........................................................9Conclusion................................................................................................................................10References................................................................................................................................12
COMPANY LAW4IntroductionAustralian company law mainly follows the legal structure of UK company law. The statue ofthe company law is regulated by the national authority namely Australian Securities and Investments Commission (ASIC). The current study is going to provide advice to the Flywell Ltd to raise funds for business expansion. Question 11. a) Fundraising obligation under Corporation ActIssue Flywell is one of the most popular Australian domestic airlines. This is facing problems to maintain business in Australian domestic market because of their rivals. This organization is trying to expand their business operation in Australian domestic market. The organizational directors are trying to regain their market position by purchasing new planes. However, it is difficult for the organization to buy planes for the capital issue. This organization is trying to induce investors to maintain business sustainability in the current market. LegislationFrom the given scenario, it has been the organization is facing problem to raise funds for business expansion. Commonwealth parliament of Australia has included Corporation Act under section 51 of the constitution. Corporation Act 2001, there is one subsection of Australian Securities and Investment Commission (ASIC) which support the business organization to raise funds related to business. ASIC is general administration under Corporation Act 2001 which has included in the chapter 6D. This provides the business process chance to raise fund through sales of
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