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1、1CompanyLawSummaryofTopics1.1JointVenturesAJointVentureiswhereseparateentitiesconductsomecombinedprojectventuresharingtheresultingproductnotasabusinessincommonbutasindependentoperatsintheirownright.PursellvNewberryJVadva

2、ntages?ConductseparatebusinessevencompeteindifferentareaswithfellowJointVenturers.?EachJointVenturerisliableonlyftheirownactivities.?EachJointVenturercanmaketheirowntaxationarrangementsraisingofcapital.?JointVenturershav

3、ealotofprivacycankeepsecrettheiraffairsfromanothermember.?JointVenturesarenotsubjecttoanyparticularregulationotherthanthebusinessfmoftheirganisation.JVdistinguishedfromPartnerships?JVreceiveapredeterminedshareoftheenterp

4、riseproduct.?JVnotsubjecttothePartnershipActconsequentmutualrightsobligations.?JVareresponsibleftheirownindividualliabilitiesobligations.?JVcanselltheirsharetoanothersubjecttotheJointVentureAgreement.1.2PartnershipsPartn

5、ershipsaregroupsof2melegalpersonswhoassociateinamutualbusinessenterprisedistributetheprofitsamongstthemselves.Partnershipsaredefinedins.5ofthePartnershipActastherelationwhichsubsistsbetweenpersonscarryingonabusinessincom

6、monwithaviewtoprofitAnAssociationaJointVenturearenotPartnershipsbecauseanAssociationdoesnotdistributedividendstoitsmemberstheJointVenturedoesnotcarryonamutualbusiness.LiabilityofpartnersfTtscontractss14Fiduciarydutys3234

7、Relationshipbwpartnerss23s24NewPartnerLib.s21RightsPartnermemberNos115PartnersDealingswithOutsiders?PartnersarebothPrincipalsAgentsoftheirPartnership.s9?PartnersareliableftheactionsoffellowPartnerswherethoseactions:?arec

8、onnectedtothebusiness.MercantileCreditvGarrod.?areactionsdoneintheusualbusinessmanner.GolbergvJenkins?areactionsofatypenmallycarriedonbythePartnershipUnlessthePartnerdoesnothaveauthitytheoutsiderwasawareofthelackofauthit

9、y.AnoutsiderondiscoveringthatapersonwasaPartnercannotholdthePartnershipliabletheymusthavebeenawarethataPartnershipexisted.LiabilityofPartnersfTtsContracts?JointLiabilityiswherethePartnersnamedinlitigationaresuedtogether.

10、Nofurtheractioncanbetakenagainstthepartnership.?SeveralLiabilityallowsPartnerstobesuedindividuallyatanytimeftheliabilitiesofthePartnership.TtsCrimesotherwrongsallowfSeveralLiability.s14.APartnershipwillbeliablefwrongswhe

11、thertheyreceiveanybenefitnot.PolkinghnevHoll.?ThePartnershipActdistinguishesbetweenobligationswhereLiabilityisJointJointSeveral.Contractualobligationsarejointliabilities.2.IntroductiontoCompanyLawTheASIC?Executivebodyadm

12、inistersCoLawReptstotheGov.disseminatesinfmationAdvisesboththeGovernmentCpationsastoCompanyLaw.?KeepsDatabasesofinfmationRegistersfthePublic.(OT)?Registersnewlyincpatedcompanies.CpateLawRefmProgramAct1999:?introduceastat

13、utybusinessjudgmentruleintroduceastatutyderivativeactionfshareholders?clarificationofdirectsduties:carediligencegoodfaith?subsidiariesdirectabletomakedecisionsingoodfaith(favouringtheparent)?Changestocivilpenaltiesapplyi

14、ngtodirects?fundraisingeasiermeoptionsoutsideofjusttheprospectuschangeaccountingstards3OnePersonCompaniesAllproprietarycompaniescanfmwithonlyonememberdirects114?Asoledirectmayexerciseallpowersofthecompanys198E(1)?s135(1)

15、Replacerulenotapplysinglepersonco.nogoveranceruleunlessadoptedconstitution?Bankruptcyofasoledirectshareholders201F(3)(4)(5)?DeathMentalincapacityofsoledirects201F(2)(4)(5)?Onedirectcanappointanotherdirectmerelybysigninga

16、recds201F(1)?Resolutionscanbepassedwithoutameetingbyplacingitinwritings249B(1)?Remunerationofsoledirects202C?Outsidersdealingwiththecompanycanassumethatthedirectactsonbehalfofthecompanys128129OtherTypesofCompanies?Holdin

17、gCompaniescontrolasubsidiaryCompany.?specialprovisionsGroupAccounts.SubsidiaryCompaniesareownedbyanotherMajitys46.?FeignCompaniesareCoyincpatedinanothercountry.?TrusteeCompaniesareincpatedtrusteesmanagepeoplesestatesbyli

18、cence.2.2RegistrationofaCompanyPreregistration:Registrationoneapplicationfmcontain:?typeofcompanyproposedcompanyname(ifanyreservationofanames601DA)?potentialmembersshares(numbersamounts)?directs(alldetails)addressregiste

19、redofficeofficehours(fapubliccompany)placeofbusinesss117.?IfaguaranteecotheamountguaranteedIfapubliccompanywithaconstitutionacopyofitsconstitution.ASICissueaCertificateofIncpation&ACNs119comesintoexistences118fromthatpoi

20、nt.Postregistration:?CompanymustappointaCompanySecretary(ifapubliccompany)s204A?UseACNonallCompanyDocuments.?EstablishShareRegisters&issuesharecertificates1096MinuteBookss251AFinancialrecdss286–289?displaycompanyname&has

21、regularofficehourss144s145InventionFinancePL&svFlavel?mustlodgewithinamonthofIncpationallthedetailsofitsAddressnamesaddressesofDirects.?Publiccompanymustholdanannualgeneralmeetingwithin18monthsofitsregistrations250N2.3Li

22、ftingtheVeilofIncpation?IncpationofaCobecomesadistinctLegalEntityaLegalPersonisdistinctfromitsEmployeesMembers.s119.CoyhasthesameliabilityasaNaturalPerson.s124.MembersonlyliablefthePaidUpValueofShares.?CoycannotbeusedtoC

23、overVeilwhatisIllegalFraudulentAgainstPublicInterest.?IfIndividualscovertheirwrongfulactivitiesCourtmayLifttheVeilofIncpationnotallowtheprotectionoftheCpation.GreenvBestobellIndustriesPLStatutyPiercingoftheVeilCLholdingi

24、ndividualsresponsibleftheiractions:?s131(2)aPromoterisliableuntiltheCompanyratifiestheirPreregistrationContracts.?s254TDirectsarePersonallyLiablefDividendsifthereareinsufficientprofits.?s588GADirectpersonallyliablefadebt

25、wheretherewasnoreasonablegroundstobelieveitcouldbepaid.ManagementisliablefanydebtincurredwhilethecoisInsolvent.StatewideTobaccoServicesLtdvMley?s588Vs588YholdingCo.liablefsubsidiariesinsolventtrading.?IncomeTaxAssessment

26、ActEnvironmentalProtectionActOccupationalHealthSafetyTheCommonLawCompaniesareSeparateEntitiesfromtheirFoundersOwners.SalomonvSalomon.LeevLeesAirFarmingMacauravNthernAssuranceIndustrialEquityvBlackburn.1.ResidenceofCompan

27、yMalayanShippingCovFCT2.FraudUsedCotocoverapersonalfraudbreachofcovenantGilfdMotsvHne3.AgencyParentCo&itsSubsidiarynotbeviewedasseparateentities.DHNFoodDistributsvTowerLondonBoughCouncilIndustrialEquityvBlackburnPioneerC

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