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Why did asic commence legal proceeding seeking civil remedie

Assignment Help Business Law and Ethics
Reference no: EM13835882

CORPORATE LAW

Assessment

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 1500 words

ESSAY

Complete both questions (a) and (b).

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

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

Part B 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).

Reference no: EM13835882

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