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Assignments and Cooperation Sample

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Added on  2021-06-17

Assignments and Cooperation Sample

   Added on 2021-06-17

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Running head: COOPERATION LAWASIC v Parker r [2003] 21 ACLC 888Name of the StudentName of the UniversityAuthor Note
Assignments and Cooperation Sample_1
1COOPERATION LAWTable of ContentsIntroduction:....................................................................................................................................2Discussion:.......................................................................................................................................2Brief facts:...................................................................................................................................2Duties breached by Mr. Parker:...................................................................................................3Decision:......................................................................................................................................6Impact of the decision:.................................................................................................................7Reference:........................................................................................................................................8
Assignments and Cooperation Sample_2
2COOPERATION LAWIntroduction:In Australia, there are many incidents where the director of a company forgets theirduties and liabilities for the company and it often observes that the directors are engaging inillegal business. They failed to secure the interest of the company and the shareholders as well.In certain circumstances, conflicts of interest cropped up and the moral facts of the corporationlaw has been denied. The corporative provision in Australia governs by Corporation Act 2001(Knepper et al. 2016). According to this Act, there are certain provisions that deal with the dutiesof the directors and all the provisions are applied mandatorily on the directors and on all thecorporations that incorporated within the territorial jurisdiction of Australia. In case, the directorshave failed to perform all their duties properly, they will be held liable for breach of duties.Further, they could face criminal penalties and therefore, they are obliged to meet all therequirements made by this Act. However, in Australia, there are many cases pending before thecourt for breaching the provisions of the Corporation Act 2001. The acts of the directors madeconflicts of interest, which becomes affective for the interest of the companies. The present caseof ASIC v Parker r [2003] 21 ACLC 888 based on the same provision. This case will help tounderstand the scope of Corporation Law and powers of Australian Securities and InvestmentsCommission. Discussion:Brief facts:The main subject matter of the case is based on the outcome of the situation when a director hasfailed to meet all the requirements made under Corporation Act 2001. This case is evolved with
Assignments and Cooperation Sample_3

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