Question 1 Abdullah is a director of Hardtech Ltd, a software design company. The board of directors of Hardtech breach their duty to act in good faith and in the best interest of the company. Abdullah is nervous about whether or not ASIC can take action against him.

Advise Abdullah

Question 2 Abdullah is really nervous now. He confides in Jane, a fellow director of Hard tech, who tells him not to worry because the directors can all seek relief from liability. Abdullah does not understand what this means.

Question 3 Abdullah approaches Jane and explains to her the situation regarding relief from liability. Jane tells Abdullah to relax because ASIC are not going to prosecute. Abdullah points out that the duty to act in good faith and in the best interests of the company is also a general law duty and Hard tech Ltd has the right to take action against the directors for breaching it. Jane says that Hard tech Ltd is controlled by the board of directors and there is no chance the board will resolve to sue the directors for breaching a general law duty. Abdullah understands but has some doubts.

Question 4 Emily is a senior executive at Platform Three Ltd, a company that imports and sells mechanical parts for trains. Last month, the CEO resigned unexpectedly and the board are having difficulty finding a suitable replacement. Several important projects are in jeopardy of failing because there is no CEO. Emily steps up and takes on some of the responsibilities of the former CEO to ensure the projects don't fail. This includes negotiating and entering a number of supply contracts on behalf of Platform Three Ltd. The board know that Emily is acting this way but say nothing because they don't want to see the projects fail. The board becomes aware of a contract entered by Emily for a $13 million shipment of parts from Indonesia. Although this is the kind of contract that the CEO would normally have entered, the directors are unhappy with the deal because they think Emily paid too much. They wish to get out of the contract on the basis that Emily did not have the proper authority to make such a deal.

Advise the directors of Platform Three Ltd

Question 5 Charlotte has $100,000 to invest. She researches a number of investments and finds a company called Maker Ltd. The company has shares listed on the ASX but is also offering debentures to investors. Charlotte believes that Maker Ltd has a lot of potential to grow its business and pay higher returns to investors. Advise Charlotte whether she should invest in the shares or the debentures.

can you use issue, rules , application and conclusion format.