Assignment 2
Question 1 1. The maintenance of capital doctrine is developed to prohibit a company from reducing its share capital because a reduction in capital would reduce the pool of funds available to the company to pay its creditors. Section 254T provides that dividends are only payable out of profits. This provision ensures that capital is not return to shareholders in the form of dividend. The term “profit” is not defined in the Corporation Act. In Re Spanish Prospecting Co Ltd (1911), it was stated “profits” implies a comparison between the states of a business at 2 specific dates usually by an interval of a year which means the gain made by the business during the year. Section 259A prohibits a company directly acquiring its own
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Adler was a non-executive director of Adler Corporation Ltd. HIHC is controlled by Adler through Adler Corporation Ltd which is a substantial shareholder of HIH. After the loan, PEE became trustee of Australian Equities Unit Trust (AEUT) which was controlled by Adler Corporation Ltd. HIHC’s $10 million loan to PEE was then applied to HIHC’s subscription for $10 million worth of AEUT units. Adler was entitled to 10 per cent of the trust’s income even though the $10 million was contributed by HIH. It was held that Adler breached his duties as an officer of HIH and HIHC under s 181. The s 181 duty may be breached where the interests of the company are put at risk by contraventions of other statutory provisions such as those dealing with related party transactions (s 208) and the financial assistance prohibition (s 260A). A contravention does not require the director to gain a benefit from the conduct. It is sufficient to establish that the conduct was carried out in order to gain an advantage. In Stoke Limited’s case, Buggy has breached s 181 as he did not act in good faith and in the best interest of the company as he arranged $200,000 to transfer into his personal accounts and use it to provide unsecured loans to a small business owned and controlled by him. Although the documentation
Using no more than 250 words, write a description of the object depicted in the two photographs.
3. What type of bank risk would worry you the most as an account holder? How should the bank protect itself against that risk? (2-4 sentences. 1.0 points)
This report aims to examine and show how economic factors and housing policy have affected provision of affordable housing in Dundee from mid 1900’s to present day. It will show evolution of
What services do you offer? Will I have a formal written agreement or contract with you? What if I can 't afford to pay your fees or make contributions? In addition to helping me solve my immediate problem, will you help me develop a plan for avoiding problems in the future?
The appellant company (Youyang) was trustee of a discretionary trust formed in 1974 for the Hayward family. Minter Ellison Morris Fletcher’s (Minters) had been acting for EC Consolidated Capital Limited (ECCCL) since July 1991, all work in connection with the drafting of the documents relating to the subscription for preference shares in ECCCL was dealt with by Minters. As part of the subscription agreement Youyang deposited $500,000 in Minters trust account. Minters was entitled to release a section of the fund from the trust account to ECCCL for the purchase of a bearer deposit certificate to be issued by Dresdner International Financial Markets (Australia) Ltd (DAL), which could then be traded on the money market. When the certificate was obtained Minters then had the right to release the remainder of the funds to ECCCL based on the subscription agreement.
This is a report which has been created to introduce new childcare practitioners to safeguarding within a childcare setting. This will help new practitioners to understand current legislations within the United Kingdom.
I believe that Excel can enhance the younger generations math learning skills. I think that as long as the basic math skills of calculating numbers are learned and mastered first, then Excel can be of a great benefit in the development of the critical thinking skills that are necessary to implement all of the different formulas. I believe that this kind of critical thinking that is required to realize how to formulate the data is a very important skill to develop. I do think that the younger generations and everyone else's calculating skills become a "little rusty" because of continually relying on Excel to do all of the calculating instead of doing the math out longhand, but this can occur even through the use of calculators. I think Excel
After reading the above statement, did you miss any species in your gut content sampling? If so, which ones?
Community health nursing is a vocation; striving to improve the health of the community by promoting, stabilizing and protecting the health of individuals, families and identified aggregates. We are able to have the furthest reach when we can isolate a specific deficit of an aggregate through assessment and subsequently the development of a community support program. Community support programs promote health, access to services and self-advocacy.
Gravells, A. (2012) Preparing to Teach in the Lifelong Learning Sector: The New Award. 5th Edition. London: Learning
Formulate a reason why the elasticity of demand is an important consideration when analyzing the impact of a shift in supply and why the elasticity of supply is an important consideration when analyzing the impact of a shift in demand. Include at least one (1) example in each scenario.
The first factor that may affect number skills development is national and community factors. A Country and community’s political, cultural, social and economic policies all contribute to the environment in which children develop. The success a country has in educating it’s children and producing a numerate population depends greatly on the country’s emphasis on the goal of numeracy for all, the resources it has available, and the mechanisms it has in place for providing effective programs and incentives that encourage number skills.
* Fixed vs. circulating capital - Memorex Pty Ltd v FCT – Non-current computer assets sold at the end of lease = income not capital.
A payment of $10M by an HIH subsidiary to a company of which Rodney Adler was a sole director. By use of a trust mechanism following investment was made $4M was used to acquire HIH share, venture capital unlisted investments were purchased from another Adler company, and loans were made to entities which were associated with Adler. All this investment was made without approval and no disclosure to the board of investment committee of HIH. Loans were made without proper documentation so that it does not catch other director attention. In this case the adler breach his duties under four sections. Section 180 duty of care and diligence, s181 duty to act in good faith and intended purpose, section 182 duty to misuse the position for personal benefit and section 183 duty not to improperly use information. The judge found that adler had personal financial interest in those transaction in company name and no business judgment was shown in good faith of the company. The conclusion was that when dealing with any transaction related to corporation should go under duty of care and diligence and proper step should be taken to mitigate the risk. All transaction should be closed across the board, should ensure that those transaction for the benefit of company and conflict of inflict should be avoided in
Commonwealth Caribbean Companies address these relaxation matters by subjecting them to what Burgess called dual solvency test. The test specify that the company cannot be insolvent by the declaration or payment of dividends or where the company is unable to fully reimburse the capital contribution of shareholders. A typical test is that of Barbados s 51(1) which states that a company shall not declare or pay a dividend if there are reasonable grounds for believing that (a) the company is unable, or would, after the payment, be unable,