Download Essential Australian Company Law by Michael Adams, David Barker PDF

By Michael Adams, David Barker

Crucial Australian corporation legislation presents a transparent and concise consultant to the most important parts within the legislations syllabus. The ebook is written in particular for legislation scholars, basically at undergraduate point, however it may also be invaluable to scholars learning legislation as a part of their direction. each one bankruptcy opens with a list of the components coated in that half of the publication, and the next textual content presents an simply assimilable dialogue of the $64000 rules of the subject in query. by means of heading off the complexities of many textbooks, crucial Australian corporation legislations goals to supply scholars with a transparent realizing of the legislation, with a purpose to then construct on their wisdom through connection with contemporary instances, laws and educational articles observed within the texts, returning to this booklet for revision reasons.

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Essential Australian Company Law

Crucial Australian corporation legislation presents a transparent and concise consultant to the major parts within the legislation syllabus. The e-book is written in particular for legislation scholars, essentially at undergraduate point, however it may also be beneficial to scholars learning legislations as a part of their path. each one bankruptcy opens with a record of the parts lined in that half of the ebook, and the next textual content offers an simply assimilable dialogue of the $64000 ideas of the subject in query.

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In 1993, there was an attempt to decriminalise the statutory provisions by adopting a new idea called civil penalty provisions. These provisions are a hybrid of civil and criminal penalties for breaching the statutory officers’ duties. CLERPA99 rewrote the entire officers’ duties provisions, in order to clearly distinguish between the civil, criminal and civil penalty provisions. It is important to note that an officer may be sued for breaches of the common law, equity or the statutory duties under s 185.

B) Guilty intention (mens rea) The second element of a criminal act is even harder to prove against a company unless it is a strict liability offence. A company can be held primarily liable for a criminal offence, as was the case in Hamilton v Whitehead (1988). It is difficult to prove the mind of the company, especially where the decision maker is not a senior 27 ESSENTIAL CORPORATE LAW executive or endorsed by the board. For example, a supermarket store manager was not sufficiently senior for his misconduct to hold a UK national chain guilty of an offence (Tesco Supermarkets v Nattrass (1972)).

A very clear statement was 39 ESSENTIAL CORPORATE LAW made to that effect in Commonwealth Bank of Australia v Eise & Freidrich (1991), where the court held the chairman and chief executive of the Victorian National Safety Council liable for the company’s debts. Important, however, was the 1992 decision of AWA Ltd v Daniels t/a Deloitte Haskins & Sells (1992), where Rogers CJ held that nonexecutive officers were not expected to adhere to the same standard of care as the executive officers. Whereas on appeal, it was held that all officers should apply the necessary standard of care and diligence (Daniels v AWA Ltd (1995)).

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