ACTY 6320 Law of Business Entities

School of Applied Practice Bachelor of Business ACTY 6320 Law of Business Entities Final Examination Semester One, 2020 Date:[] June 2020Start time:[]Time Allowed:3.00 hours, plus 10 minutes reading timeTotal marks:100 marksWeighting:50% of courseInstructions:Answer Part A Question 1 (compulsory) and three other questions from Part B Answer the questions directly in the answer booklet provided. Please write clearly and in pen (blue or black). This is an open book examination.Learning OutcomesThis assessment provides evidence you have met the following Learning Outcomes One Examine the theory of business structures and demonstrate or explain how one or more of these structures is created. Summarise other types of business structure, their rationale and governing statutory regimes including the customs, heritage and current legal practices of Maori. Two Analyse the role and legal obligations of the owner/manager of a business and solve simple problems relating to the management and administration of businesses. Three Identify the role of investors in business enterprises and apply legal rules to problems that may arise between investors and managers. Four Describe how and why businesses end and apply legal rules to simple winding up problems.Summary of paper:QuestionTopic & Type of QuestionMarksPart A : Compulsory Question1Maori Business (Land) Structure (Essay)25Part B: Answer any three questions in this part Short Answers/ Application Question (Choose any three questions from Questions B1, B2, B3 and B4)B1Directors Duties Application (ILAC) Question25B2Remedies (Short Summary)25B3Capital Maintenance & Company Records (Short answers)25B4Liquidation (Short answers)25Total100 For all questions, you are required to cite any relevant common law principles, case law and sections of the relevant legislation in your answer. You are required to read the news in the media, law reports, liquidators reports on CBI Insurance Limited (27582)(In Liquidation) and CBI Corporation Limited (3888838))(In Liquidation). Questions B1 and B4 are based on your prior research on CBI Insurance Limited (27582)(In Liquidation) and Question B2 is based on your prior research on CBI Corporation Limited (3888838))(In Liquidation). Reference to company in the questions below means limited liability company incorporated under the Companies Act 1993. Law of Business Entities ACTY 6320 Final exam instructions Semester One 2020 Exam: []pm Wednesday [] June 2020 Open Book Exam The exam questions are now finalised and you have been instructed to research and read the news reporting, the documents filed with the Companies Office New Zealand on CBI Insurance Limited (27582)(in Liquidation) and CBI Corporation Limited (3888838))(In Liquidation) relating to its liquidation. In addition to reading the relevant chapters in your textbook (Commercial Application of Company Law in New Zealand (5th Edition)), you should read Lexis Nexis Practical Guidance available in Unitec Library site and the lecture notes and powerpoints available in the Course Moodle. Recommended Reading for Exam Part A Compulsory Maori Business (Land) Structures Essay not more than 300 words Maori Business Structures to collectively hold land Compulsory Essay please read relevant materials posted on Maori Land Court website. Part B1 Directors Duties Application (ILAC) Question The question on Directors Duties Application Question are related to CBL Insurance. Please read: Chapters 11 15 of your textbookhttps://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/27582/documentshttps://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12158862&ref=art_readmorehttps://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12292056https://www.nzx.com/companies/CBL/announcements/284467Johnstone v CBL Insurance Europe DAC[2019] NZHC 2101; BC201961460 Part B2 Remedies (Short Summary) Remedies Short summary relates to CBL Construction Ltd (In Liquidation). You should read: Chapters 16 of your textbook, andhttps://www.cblclassaction.co.nz/ Part B3 Capital Maintenance & Company Records (Short Answers) Capital Maintenance & Company Records Short answers does not relates to CBL Insurance nor CBL Construction. You should study Chapters 17 and 19 of your textbook. Part B4 Liquidation (Short Answers) Liquidation Short answers relates to CBL Insurance You should read: Chapter 24 of your textbook. https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/27582/documents Please read the Liquidators report.https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12292056 Open Book Exam Guide Type of Examination and Materials Permitted The exam is Open Book. Students are permitted to bring written materials, and news reporting and other printed materials on Mainzeal with them in to the exam and use these materials to help them when answering their exam questions. For example, you may bring: Your textbookPrintouts of the relevant legislationA dictionary (either for translation or understanding)Class notesStudy notes students have madeDiagrams or summary sheets developed by students Students are not permitted to communicate with each other in the exam or exchange study materials during the exam. Why is the exam open book? The exam is designed to test your ability to apply the law to real world fact scenarios not to test your memory. An open book exam also more closely resembles common workplace experiences. For example, you may be called to a meeting to talk about a piece of work you are doing and answer questions about it. You are able to prepare for the meeting and bring materials that will help you answer the questions, but you still have to perform on the day to demonstrate that you understand what you are doing. Hints with Open Book Exams The exam is not the time to read the textbook! You have limited time so you need know the information and have your material in a form you can access fast! Make sure that you answer all the questions. -Writing perfect answers to the first three questions and then running out of time is how good students fail exams that they should pass. You need to study just as much for an open book exam as you do for a closed book exam; you just study in a different way. A Suggested Approach to Studying for the Exam This is only one of many ways you might study for this exam. It is intended as a suggested study method for students who are new to studying for this type of exam or would like to use it. Study in whatever way works the best for you! Step One: Check details and Collect Materials Check the date and time of your examPrint off the exam guideLocate your class materials that relate to the exam topicsPrint off required legislation and practice questionsPrint off the list of relevant textbook sections Step Two: Plan your attack! Read through the exam guideIdentify how many questions and what topics will be examinedIdentify how will you study for each topic and how much time to you need/have to study for each question Step Three: Understand the Content Review and summarise your in-class notes, Powerpoints and Exam reading materials.Read and summarise relevant textbook and Exam Fact Set pointsReview the legislation and identify relevant sections/simplifyReview cases and write out names or points of law Step Four: Prepare a Summary Page for Each Question Topic Summarise and condense the content from Step Three in to a logical and easy to remember page of study notesMake sure you have content set out in a way that makes it easy to refer to in an examYou might like to use checklists, diagrams or flowcharts depending on your preferred learning style Step Five: Practice Old Exam Questions Work through the sample exam questions posted on the Library siteUse your Summary Pages to help you answerMake any changes, additions or alterations you need to your summary pages to make them more helpful in the exam Step Six: The Final Steps in Preparation Check the details for the exam (time, location, if applicable etc)Order your materials so you can access what you need quickly and easily flags, highlighting etcMake sure you have pens, highlighters etc in the required bagMake sure you have your ID card, drink bottle etcTake a break, relax and have a proper breakfast/lunch.

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