1. Introduction Directors play vital role in corporate governance in which their poor management will lead to a significant change of shareholders value, measured by the company share prices. For example, ABC Learning Centre share price dropped 60% in 2 hours after it announced its profit fell 42% (Couriermail 2008). The purpose of this report is to outline the reasons of the collapses of ABC Learning Centre, Centro Properties Ltd and Hastie Group and the main financial disclosure issues
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UNIFORMED SERVICES EMPLOYMENT AND REEMPLOYMENT RIGHTS ACT OF 1994 USERRA is a federal statute that protects servicemembers’ and veterans’ civilian employment rights. Among other things, under certain conditions, USERRA requires employers to put individuals back to work in their civilian jobs after military service. USERRA also protects servicemembers from discrimination in the workplace based on their military service or affiliation. SUBCHAPTER I--GENERAL § 4301. Purposes; sense of Congress
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Question 1 1. The principle or rule known as the maintenance of share capital is based on the need to protect shareholders and creditors. Share capital is the contribution made by shareholders by subscribing shares of the company. A company’s creditors can only look to the share capital for the payment in the event of a winding up. To protect creditors, a general rule known as the rule in Trevor v Whitworth was developed to prohibit a company from reducing its share capital because a reduction in
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Lit1 Task 1 Organization of Business Sole Proprietorship: Most common form of business today. Legally speaking the sole proprietor and the business are one in the same. Any legal issues such as law suits and tax liabilities are the same and the sole responsibility of the owner. There is no autonomy, no differentiation between the business and the owner. If the business gets sued, it is the personal assets of the business and the owner that are in jeopardy. It is also the easiest form of business
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corporation’s board of directors and executive management team are liable for establishing the policy, procedures and are eventually accountable to stockholders for the financial well-being of the corporation. Too successfully conduct their responsibilities, panel associates must have appropriate data in the structure of financial statements or narrates that afford a complete summary of the corporation’s financial position. The fundamental material associates of a board of directors and executive management
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NATIONAL ASSEMBLY No. 70-2006-QH11 SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness LAW ON SECURITIES1 Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam as amended by Resolution 51-2001QH10 passed by Legislature X of the National Assembly at its 10th Session on 25 December 2001; This Law regulates securities and the securities market. CHAPTER I General Provisions Article 1 Governing scope This Law regulates activities being public offers of securities
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Once the company is successfully registered, it becomes a separate legal entity which is different from its directors, owners, and shareholders. The company could have its own right and asset, and also property. Meanwhile, the money and resources of the company could only be used for business purpose. Even the directors can’t use the company’s asset for private uses. (Guides to obligations of proprietary limited companies 2012). According to the case, the four people want to establish a company
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‘Directors duties occupy a strange position in company law. They must be sufficiently strong so as to keep directors in line but sufficiently weak to allow directors to take risks. It is no wonder the courts can’t enforce them properly.’ Do you agree with the above statement? By any measure the 2006 Act is a momentous and monumental piece of legislation. The largest statute ever enacted by the Westminster Parliament, it has engineered the modernisation, consolidation and codification of the vast
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The Concept of Ethical Obligations Strayer University PAD 500 Modern Public Administration Dr. Leah Raby 11.25.13 George Tenet served as the Director if the Central Intelligence Agency from 1997 to 2004 under Presidents Bill Clinton and George W. Bush. His CIA tenure coincided with the 9/11 terrorists attacks the New York City World Trade Center, Pentagon in Washington, D.C and
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Ian is the finance director at Silver Sachs, a banking ………within a company. What is the likelihood of Ian keeping his job? The position of Ian as a director of the company is one of utmost importance. Directors are tasked with managing the company in such a way as to maximise the benefits to shareholders and other stakeholders, whilst ensuring that the company complies with all applicable laws and regulations. It is, therefore, a serious matter for the company if a director is underperforming
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