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Business Associations LAWS1091 2016 S2 Full Course Notes

LAWS1091 - Business Associations

23 Pages Complete Study Notes Year: Pre-2018

Director and Officer 1 s180 Care and diligence 1 s181 Bona fide for the benefit of the company 2 ss 182, 183 Improper use of position or information 2 s184 Criminal breach of duty 3 Statutory Defence to breach of director’s duty 3 ss 191 to 196 Statutory duty to disclose conflict 4 Fiduciary duties 4 Equitable duty to avoid conflicts 4 Misappropriation of company property: fiduciary duties 5 Make secret profits: fiduciary duties 5 Diversion of business opportunity: fiduciary duties 5 Related party benefit; fiduciary duties 5 Related party benefit: Statutory requirement for members approval 12 6 Related party benefit: Exemption for members approval p13 6 Duty to prevent insolvent trading p13 6 Defence for insolvent trading 6 Relief from liability for breach of Corps Act or general law duties 7 Remedy for breach 7 s1324 Statutory Injunction 7 Ression of contract: ss 128, 129 8 Account of profit 9 Damages 9 Civil penalty 10 Criminal sanction 10 Disqualification p20 10 ASIC power 10 Statutory derivative action

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