What are the two main sources of law in Australia? Which is most powerful? Why?

Question 1.2

W hy is precedent important?

Question 1.3

Which tier of government, federal, state or local do you think has the greatest influence/effect on businesses in the financial services environment? Why?

Question 1.4

Using examples, explain what is meant by 'delegated' or 'subordinate legislation'. Why is this type of legislation particularly important in ensuing clients are properly advised about business compliance?

Question 1.5

A ustralia's legal system is based on the 'rule of law' central to which is natural justice. How is natural justice incorporated into our court system?