Using the ASIC Connect website, search for the business names “Digital10” and “iDesign”…. 1 answer below »

Question 1:
a) Using the ASIC Connect website, search for the business names “Digital10” and “iDesign”. Are these
two business names currently available for registration?
b) Using the ASIC Connect website, search for a company called “Vocation Limited”. What is the ACN
for this company? In which city is the company’s registered office located?
Instructions for Questions 2 to 5:
Read the information at the following link, then answer Questions 2 to 5.
Link: https://www.cgw.com.au/publication/asic-v-vocation-directors-liable-under-section-180-of-thecorporations-act-for-companys-breach-of-disclosure-obligations-and-misleading-conduct/
Question 2:
a) What sections were held to have been breached by Vocation Limited? Which section was held not to
have been breached by Vocation Limited?
b) How had Vocation Limited engaged in misleading and deceptive conduct? (Hint: There were 2
instances)
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2105AFE Introduction to Business Law – Trimester 3, 2019 Problem Solving Assignment
Question 3:
a) In addition to commencing civil penalty proceedings against Vocation Limited, ASIC also commenced
civil penalty proceedings against three of the directors. What are the names of the 3 directors?
b) ASIC alleged that the three directors had breached which section of the Corporations Act? Were the
directors found to have breached that section?
Question 4:
a) Why was Mr Hutchinson found to owe a greater responsibility to Vocation that the other directors?
b) Can a director be liable under s180 for allowing a company’s breach of the Act even if they had no
actual knowledge of the contravention?
Question 5:
a) If a director makes a decision regarding the company’s compliance with the requirements of the
Corporations Act, could the business judgment rule defence in s180(2) apply to the decision?
b) Which precedent did the judge rely on when making the decision about whether or not the business
judgment rule applied to compliance decisions?

 

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