Legal Aspect of International Trade and Enterprise

Running head: LEGAL ASPECT OF INTERNATIONAL TRADE AND ENTERPRISE
Legal aspect of international trade and enterprise
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1LEGAL ASPECT OF INTERNATIONAL TRADE AND ENTERPRISE
Table of Contents
Introduction......................................................................................................................................3
Identification of an MNC.................................................................................................................3
Identification of various legislative regulatory frameworks affecting BHP Billiton......................3
Treaties, conventions and agreements creating impact on the business functioning.......................7
Conclusion.......................................................................................................................................9
References......................................................................................................................................11

2LEGAL ASPECT OF INTERNATIONAL TRADE AND ENTERPRISE
Introduction
The topic introduces the concepts of international trade and various legal and regulatory
frameworks associated with the business functioning of BHP Billiton in Australia. The report
covers the various aspects regulatory frameworks and legislations that may have affected the
business functioning. The legislations proposed in the report will not only allow for maintaining
the corporate standards but can also facilitate the business operations and processes and ensure
proper management of trade relations between Australia and other nations (bhp.com 2018).
There are different treaties, agreements that are also formed to ensure smooth flow of business
operations along with better growth in economy and innovation.
Identification of an MNC
The company that has been chosen here as the case study and has been operating in
Australia is BHP Billiton in Australia. The industry within which the company operates is the
metals and mining industry. The company is a trading entity of the BHP Billiton Limited and is a
major Anglo-Australian multinational mining, petroleum and metals dual listed public company,
which has its headquarters in Melbourne, Victoria in Australia. The company’s CEO is Andrew
Stewart Mackenzie and has a revenue of more than 3828.5 crores USD. It is the second largest
mining company in the whole world in terms of the revenue generated, i.e., 69.4 billion US
dollars (Dunning 2013). The numbers of employees are 65000 and the operating and net incomes
are US$11.753 billion and US$6.222 billion respectively.

3LEGAL ASPECT OF INTERNATIONAL TRADE AND ENTERPRISE
Identification of various legislative regulatory frameworks affecting BHP Billiton
According to Dunning (2013), there are various legislative frameworks including the
laws, rules and regulations that are imposed and due to this, companies like BHP Billiton has
subjected to 30 percent of the corporate tax. There are various legislative requirements and
frameworks that are associated with the expansion of the project and it can also manage the
approval and allow for permissions and licensing of various activities. Beamish (2013) argued
that the legislative frameworks have considered the Australian, South Australian and Northern
Territory Government requirements, which can assist in identifying the various legislations,
policies, laws, standards and codes of practices that can create an impact on the expansion of the
project against the local and regional statutory planning instruments (Beamish 2013). The
legislative frameworks have also assisted in managing the environmental approval processes,
which include consultation of the process of EIS along with the identification of various scopes
and opportunities required to make formal submissions to the Government during the public
exhibitions.
The legislative frameworks facilitate the Government assessment processes that are
integrated with the previous collaborative process for ensuring expansion of the proposed project
with ease and effectiveness. Vagts yet al. (2015) stated about the major legislative frameworks
including the Environment Protection and Biodiversity Protection Act, Ratification Act,
Development Act and Darwin Port Corporation Act. The actions undertaken involved the
Commonwealth land for protecting the environment and control the various provisions related to
the project expansion (Vagts yet al. 2015). The guiding principles of sustainable development
fell under the EPBC Act for ensuring that the environment is protected while managing the
business operations and at the same time, foster the development of new products and services.