took action against executives and directors of the Centro Proprieties Group and Centro Retail Group. The executives included the former chief executive officer and the former chief financial officer as well as directors from the board of Centro. The ASIC was proceeding with the case on the basis that they assumed that the aforementioned had breached their statutory duty of care and diligence owed to the Centro entities and had therefore breached ss 180(1)‚ 601FD(1) and 344(1) of the Corporations Act
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Sub-classified as small or large ASIC - Unlimited with share capital Small = Can be any size; some are very large - consolidated gross operating revenue < $25m - consolidated gross asset value < $12.5m The majority of registered companies are proprietary. As at March 2012‚ ASIC reports that there were 1‚871‚004 proprietary companies‚ representing 98.87% of all registered companies. Unlisted – The majority of registered companies are proprietary. As at March 2012‚ ASIC reports that there were 1‚871
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HIH Insurance Liquidation and Breach of Duty by Directors Background There are few surprises when it comes to insurance‚ but when they do come; they nearly always bring bad news. Such was the demise of HIH Insurance Limited (HIH): both a surprise (to many) and very bad news for many policyholders. On Thursday‚ 15 March 2001‚ HIH received approval from the NSW Supreme Court to place HIH into provisional liquidation. Tony McGrath of KPMG was appointed as provisional liquidator to HIH and 17
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Competitive Forces (5 Forces) Barriers to Entry: The telecommunication industry is dominated by only a few fully integrated companies like Motorola and Nortel. Because of this‚ companies like Alcatel are involved in smaller scale acquisitions that are filling in product assortments. One issue with this is that smaller players are being squeezed by severe price competition. The telecommunications industry does have high entry costs given that the industry requires a high level of integration
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Case Study of Samsung’s Mobile Phone Business I. Introduction For Samsung Electronics‚ 2003 was a watershed year. It successfully positioned itself as one of the world’s best mobile phone manufacturers and its products were featured all over the media. Many were calling its mobile phones as “the best gift for Christmas”1 or “the Mercedes of mobile phones.”2 Samsung’s achievements were particularly remarkable considering that its primary focus had previously been in semiconductors and home appliances
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Abstract i Executive summary ii Chapter I. Introduction 1 Chapter II. Motorola ’s Background (1928-2005) 1 Chapter III. The Problem Why Leaders Fail - Christopher B. Galvin 2 Chapter IV. How to be successful again - Edward Zander 5 Chapter V. Conclusion 7 References 9 Abstract This article discussed the reasons why leader fail by studying Motorola ’s former leaders. Christopher B. Galvin was Motorola ’s chief executive officer from 1999 to 2003. As third generation of Galvin family
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GROUP A PRESENTATION: Leibler (“True and fair view- an imaginary view”) argues “in an ideal world‚ and with just a little imagination‚ accounting standards would always produce a true and fair result. But this is not necessarily so in the real world” (p 61). o What is the problem that Leibler identifies in his paper with respect to the ‘true and fair’ requirement? o What solutions does Leibler suggest to ensure that reporting entities do a better job at addressing the ‘true and fair’ requirement
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Company Law and Administration Purpose: Describe the development of company law in England. Understand the current structure of Australian company law. Identify the process of and current law reforms. Explain how company law is administered through ASIC. English Company Law: Incorporation Monasteries‚ local government boroughs and trade guilds were the earliest examples of bodies to be incorporated by Royal Charter (prior to parliamentary democracy). Commercial Development The 17th and
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the actual output is different then the expected output then there is a bug which has to be fixed by the designer of the module which is not behaving the way it should. The expected output is obtained by applying the test case to the C model of the ASIC. 3 a) HVL: Hardware Verification Language The testbench required to test the RTL design is coded using HVL. Examples are (VERA‚ e language and system C). The complex testbenches like the full chip verification is normally written in HVL. Prior to
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getting listed 1. According to of Corporations Act 2001‚ the process to change from a proprietary to public company involves the following steps: 1) Passing a special resolution of changing company type. 2) Lodging an application with ASIC. 3) For our company‚ we need the following process: a) Holding a general meeting. The members need to meet to discuss and minute the reasons for the proposed change‚ to formally resolve a change to public company type. They also need to decide
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