Assessment Item 2 30% Complete both parts, Part A and Part B

| March 29, 2017

Question
Unit:

Corporate Law

Assessment item 2 :

Major Assignment 2000 words (individual)

Objective(s): This addresses Unit Learning Objectives.

Weighting: 30 %

Due: Submitted in Week 10 class. A daily penalty of 5 % will be applied to late assignments. See Unit Outline in Moodle.

Task Overview:This will be a written assignment worth 30%.

Students will be expected to address all the issues evidenced in all parts of the set assignment.

In Week 10 students shall submit assignment answers to the lecturer in hard copy format and shall upload a soft copy through Turnitin as one Word file. Turnitin checks for copied and unreferenced material. The Turnitin class code and access password shall be available on the subject site on Moodle. It is highly recommended that students discuss the requirements of the questions with the lecturer.

References should follow the Harvard referencing style.

The Criteria for the evaluation of this assessment item are set out in the subject unit outline on Moodle. Assignments submitted should show:

Clear understanding of the questions and its relevant issues.

Evidence of reading and research depth

Application of theory and critical analysis

Use of cases, statutes and other resources to support the analysis

Format of assignment: essay structure: expression, proper presentation and structure including use of a bibliography, referencing and correct use of Harvard Referencing System to acknowledge sources.

CORPORATE LAW

Assessment Item 2 30%

Complete both parts, Part A and Part B

In both essays use cases, statutes and other resources covered in the course where appropriate to support the analysis.

Part A 20 % 1500 words

ESSAY

Complete both questions (a) and (b).

(a) Explain the role, functions and powers of the Australian Securities and Investments Commission. (15%)

(b) Why did ASIC commence legal proceedings seeking civil remedies from the courts in ASIC v Vizard (2005) 23 ACLC 1309? (5%)

Part B 10 % 500 words

ESSAY

The text describes the ‘corporate veil’ as “…a theoretical screen which descends on the company when it is incorporated and, ordinarily, prevents outsiders from peeping in to see who is in charge or control of the company.” (Text page 175)

“However the courts are prepared to disregard the corporate veil in special and limited circumstances.” (Text page 177)

Explain why the courts in these two cases lifted the corporate veil:

Gilford Motor Co. Ltd v Horne [1933] 1 Ch 935 Court of Appeal (UK) and

Jones v Lipman[1962] 1 All ER 442 Chancery Division (UK). (10%)

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