Securities Practice Electronic Technology †Myassignmenthelp.Com

Question: Discuss About The Securities Practice Electronic Technology? Answer: Introduction The basic aim lying behind the preparation of this report is to develop an understanding about the legal structure required for the purpose of registering a public limited company of an Australian economy. All countries have different types of procedures for the registering of companies. In this report, the legal procedure required for registering a public company has been discussed. NB Form 201 and Sections 117(1) and 117(2) have also filled. Various phrases related to laws are also discussed. A public company refers to that type of company whose shares are freely traded in the stock market and the ownership of the company has been divided into many stages. It is also known as publicly traded company (Carey, et al., 2014). The ownership of the company is shared between the board of the company, public shareholders and the management team of the company. Process of registering a public company There are five steps that are involved in the process of registering a public company. Deciding the structure of business This is the foremost step of registering a company. This step is dedicated towards the identifying the type of business that suits the needs and demands of the business in an efficient and effective manner. Registering a company under Corporation Act 2001 automatically registers the company as Australian Company (Elson, et al., 2015). It implies that a person can run his/her business in Australia without registering in Individual and Territory authorities. Choosing a name for company The legal status of the company must be indicated by the name of the company. The type of the company must be revealed by the name of the company. The usage of certain phrases and words cannot use by the company without taking the prior permission of Government After selecting the name for the company, it is very essential for the company to ret registered its name (Lillqvist, and Louhiala-Salminen, 2014). Determining the constitution which governs the company This step is dedicated towards the decision relating to the management of the company. Various rules and regulations which are applied in the management of the company are also identified in the step (Furlong, 2015). Legal rights, restrictions and duties are defined by the constitution of the company. Procuring consents It is compulsory to take written approvals from the personnel who are agreed to holds high position of the company before registering a company. It is compulsory for the public company to have at least three directors and one secretary. Out of three, two directors and one secretary should be the residents of Australia (Ferwerda, et al., 2017). Completing the application form This step is dedicated towards the filling of appropriate details relating to the company in the form. Australian Company Number (ACN) is provided by the authority on registering the company in ASIC (Hewitt and Carlson, 2017) Piercing of Corporate veil The Piercing of Corporate veil is used for identifying the act of a court. In concern to this, it embraces the business investor as well as the owners of LLC, which has individually held liable for the liabilities and debts of a company. Companies have isolated article for their investors as well as complying with the usual conditions. On the other hand, if the company has borrowed the individual officers or investors that have not been conveyed in the court case (Murray, 2016). Therefore, there are some businesses cases that are related to the investors and officers, which can be prosecuted for the debts as well as for the negligence. The act of conveying and prosecute to the investors is known as lifetime the corporate veil or piercing the corporate veil. At the same time, the business investors and the business holders come under the members of an LLC (limited liability Company). Legal decisions come under the corporate veil and Piercing and it shows the different rights and responsibilities of the business, which has adverse impacts on the investors. Normally, business supports the individual person for meeting the outstanding amount, which has incurs through creditors (Simpson, and Stewart, 2013). For example, a businessperson can drop any job like a director as well as an agreement for the sake of business. Directing the mind and will As per the mind and will, any superior individual comes under the company board of directors. For this, the aim of superior is to maximise the business profit. The companys directing mind and will includes every employee who has executed the definite occupations for the business. In contradiction to this, if he/ she possess the ability of execution but their actions do not have external action having significance in this phrase, he/she would be captive individually legally responsible (Ashworth and Horder, 2013). Usually, criminal businesses are of three types like a business can be an offender of a misdeed thereby director holding its senior position, which is considered as an act on the basis of the company. Apart from this, directing of mind and will theory comprises the corporation, which can be a prisoner of a crime with an asset of their letdown to act on a responsibility of a non-delegable constitutional. Finally, the corporation can also be offender with the actions of the wo rkers inside the capacity of its service. Yet, it has simply promised in the law of constitutional criminal. The liability of business criminal law has usually equalled in order to the Criminal liability of separate (Tromans and Irvine, 2014). Criminal fundamentals that can be confirmed the guilty to a person such as two basics like the guilty mind and guilty act. Conclusion After analysing the above report, it has been interpreted that it is very essential for the company to register itself with the Australian Securities and Investment Commission. This is necessary for the company to get its securities traded in the market. A legal procedure has to be followed by the company in order to get registered in the ASIC. A complete filled form has been attached in this file. References Ashworth, A. and Horder, J. (2013) Principles of Criminal Law. USA: OUP Oxford. Carey, P., Potter, B. and Tanewski, G., (2014) Application of the reporting entity concept in Australia.Abacus,50(4), pp.460-489. Elson, C.M., Ferrere, C.K. and Goossen, N.J. (2015) The bug at Volkswagen: Lessons in co?determination, ownership, and board structure,Journal of Applied Corporate Finance,27(4), pp.36-43. Ferwerda, J., Deleanu, I. and Unger, B. (2017) Corruption in public procurement: Finding the right indicators,European Journal on Criminal Policy and Research,23(2), pp.245-267. Furlong, K. (2015) Water and the entrepreneurial city: The territorial expansion of public utility companies from Colombia and the Netherlands,Geoforum,58, pp.195-207. Hewitt, J.R. and Carlson, J.B. (2017)Securities Practice and Electronic Technology. USA: Law Journal Press. Lillqvist, E. and Louhiala-Salminen, L. (2014) Facing Facebook: Impression management strategies in companyconsumer interactions,Journal of Business and Technical Communication,28(1), pp.3-30. Murray, J. (2016) Piercing the Corporate Veil- What Business Owners Need to Know. [Online]. Available at: https://www.thebalance.com/piercing-the-corporate-veil-definition-398410 (Accessed: 18 September 2017) Simpson, E., and Stewart, M. (2013) Sham Transactions. USA: OUP Oxford. Tromans, S. and Irvine, G. (2014) Taking Responsibility: Personal Liability Under Environmental Law Business and the Environment Practitioner Series. UK: Routledge