Australian Company Law Lecture Notes – LAW1026 Sample, Lecture notes of Law

Download Australian Company Law Lecture Notes – LAW1026 Sample and more Lecture notes Law in PDF only on Docsity! Australian Company Law Lecture Notes – LAW1026 Sample Contents Topic 1 – Introduction to Organisations at Law ...................................................................................... 1 Topic 2 – Partnerships and Fiduciaries .................................................... Error! Bookmark not defined. Topic 3 – History, Social Role, Regulatory Framework & Corporate Personality ... Error! Bookmark not defined. Regulation of Companies ..................................................................... Error! Bookmark not defined. Classifying Companies .......................................................................... Error! Bookmark not defined. Internal Rules and Organs .................................................................... Error! Bookmark not defined. Corporate Personality .......................................................................... Error! Bookmark not defined. Topic 4 – Management of Companies ..................................................... Error! Bookmark not defined. Director's Powers ................................................................................. Error! Bookmark not defined. Members' Powers ................................................................................ Error! Bookmark not defined. Directors ............................................................................................... Error! Bookmark not defined. Topic 5 – Directors Duties Care Skill & Diligence ..................................... Error! Bookmark not defined. Topic 6 – Members Rights & Remedies ................................................... Error! Bookmark not defined. Topic 7 – Corporate Finance .................................................................... Error! Bookmark not defined. Topic 8 – Fundraising and Securities ........................................................ Error! Bookmark not defined. Topic 9 – External Administration & Winding Up .................................... Error! Bookmark not defined. Summaries ............................................................................................... Error! Bookmark not defined. Topic 1: Choice of Structure to Conduct Business ............................... Error! Bookmark not defined. Topic 2: Partnership ............................................................................. Error! Bookmark not defined. Topic 3: Proprietary vs Public Companies ............................................ Error! Bookmark not defined. Topic 4: Regulatory Framework / Company organs ............................ Error! Bookmark not defined. Topic 5: Directors' Duties ..................................................................... Error! Bookmark not defined. Topic 6: Members' Rights .................................................................... Error! Bookmark not defined. Topic 7: Company Finance ................................................................... Error! Bookmark not defined. Topic 8: Fundraising ............................................................................. Error! Bookmark not defined. Topic 1 – Introduction to Organisations at Law Corporations Act • Legal form of an organisation used to work out liability and rights of people involved • Simplest to most complex: o Sole Proprietor o Partnership o Unincorporated association o Incorporated association (formal structure of organisation, formal obligations agreed upon collectively (usually bylaws), members of organisation) o Company (three forms) • Proprietary Company (Pty Ltd) • Public Company (at least 3 directors, as grows in size, obligations grow) • Listed Public Company (ASX) Introduction • Organisations at law o Unincorporated associations o Partnerships o Trusts o Corporations • Distinguishes business from other activities • Distinguishes business from its organisational form *organisation / entity = same thing* *business  use of assets for a generation of profit* Types of organisations • Organisations at law differ from sociological and business categories o Sociological (e.g. school, church) o Business (e.g. consultancies, producers) o Law (e.g. partnership, labour union, company) • Organisations are not a single category at law • Organisations at law are governed differently by distinct areas of law Aspects of organisations • A group of people identifying themselves as such • Use a group name • Varying levels of formality • Membership: o Various methods of becoming a member o Carries variable rights o Carries unlimited liability o Governance • Mechanisms and processes by which an organisation is controlled and directed (broader than statutory) Unincorporated association • Group of people organised for a purpose - not for business purposes • Often used by sporting and social clubs • Law does not grant group identity apart from individual members o Social position i.e. president etc. is not recognised by law • Not liable merely because of their membership for debts incurred • As a form of organisation for business it is unworkable. It is not designed to achieve business outcomes • Can incorporate to avoid *sole proprietor*