Who says there is nothing that money cannot solve, eh?
BLO2205 assessment answers analysing the issue that caused by someone trying to solve an issue by money would beg to differ. In the assignment related to corporate law, there are always some issues.
One such assignment is the one in BLO2205 that is questioning the power exercised by the board of directors.
BLO2205 assignment answers and pep talk do not go hand in hand, do they? So, enough of the pep talk. We are lawyers, the pep talk is not in our genes, right? Let me get straight to the point.
The nightmare a.k.a the case
There is an organisation called Waldmart Ltd whose board is saying “Let us pay $1.25 cent a share in dividend and also issue bonus share to the shareholders.”
But the shareholders are like “Ain’t that a trap ‘cause we rejected their Remuneration Report at AGM and there was a strike for the first time?”
The board is thinking that maybe the shareholders will not make this strike an issue at the next AGM. They are also asking the shareholders to approve the remuneration report with justification.
There is a company who has 4% hold in Waldmart and think, along with other shareholders, that this bonus share and an increased dividend is stupidity during such financial times.
You, in this assignment, are a corporate lawyer. These shareholders have come to you for advice and here is how I would advise them.
Identification of Issue
I am sure that you are familiar with the IRAC format, yes? So, the first thing to do in BLO2205 assessment answers is to identify the issue.
Your honour, if you will take your attention to the case in hand, you will see that Waldmart Ltd proposed to issue a bonus share of 25%. But in the end, they only issued a 1.25% bonus. It is obvious that such treachery agitated the shareholders and they the remuneration report out the window.
BLO2205 assignment answers also take Better Super Ltd into account and identify it as one of the oldest shareholders of the firm. They were really upset with the actions of Waldmart Ltd.
Here is what you have to determine in BLO2205 assessment answers -
You have to check if the board of Waldmart Ltd actually holds the power to issue bonus shares to the shareholders. What if they cannot deliver what they have promised, right?
You also have to see how much power do the shareholders hold. Is their power enough to stop the board from issuing the bonus shares?
The most important issue in BLO2205 assignment answers is to identify the consequences Waldmart will face when the shareholders are going to vote against the remuneration report, again.
Next stop - the rules
Whenever you are writing the case study, there is literally a 0% probability that the case you have is the first of its kind. The BLO2205 assessment answers rely on rules and laws to build the argument.
For this, you are going to have to take a walk down the memory lane and a dive in the oceans of history. Too dramatic? Sorry. Identify the rules that resonate with the case you have.
BLO2205 assignment answers will be based on rules that the government of Australia has set. That is why it is IRAC and not ILAC. If this was ILAC, you would be referring to previous cases. Sorry, distracted again.
Where was I? Yes, rules.
The first rule that the BLO2205 assessment answers will refer to is Foreign Investment Laws. What do they do? Foreign investment laws encourage domestic savings and a high employment rate. They also help in managing in-house production, maintain income and expenses. Moreover, this law has provided a well-structured regulatory framework for a highly skilled workforce in Australia to enjoy an international reputation.
The next BLO2205 assignment answers rule is Australian Finance Law 7e. The role of this rule is to provide adequate support to the Australian financial system, debt financing, taxation, capital market and insolvency law.
Oh, and do not forget the Australian Contract Law. That stuff is really important here. Whenever you are talking about companies and employees and board and shareholders in BLO2205 assessment answers, you cannot ignore the one thing that governs them all.
Okay, one last one. Please do not hate me. I am doing this all for you after all. The discussion will also consider the Corporate Law Economic Reform Program Act. A lot of commitments and power exercise issues have been solved in BLO2205 assignment answers using this law as well.
All aboard at Application
Using the laws and rules that I have mentioned above, you can apply them in the assignment. Check them and analyse if the board of Waldmart Ltd has the power to issue bonus shares or not. Do not forget that BLO2205 assessment answers also discuss whether the shareholders can make the board agree to their terms at the upcoming AGM to not issue the bonus shares.
What is the moral of the story, kids?
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