Law & Ethics Lucy McRoberts Liaison Day October 2010 Professional, Practical, Proven

Section 1: Ethics (20%) Section 2: Company Law (40%) Section 3: Introduction to Law (40%) Law & Ethics

Exam: – Please note the manual represents the syllabus in its entirety – All exam questions will use the 2010/2011 syllabus as source material – Students will be absolutely prohibited from physically bringing extraneous material into the exam Law & Ethics

Exam Format: – Section 1: Ethics One compulsory question (20 marks) – Section 2: Company Law Five questions – complete any FOUR (all 10 marks) – Section 3: Introduction to Law Five questions – complete any FOUR (all 10 marks) Law & Ethics

Section 1: Ethics – Obligations upon Directors Fraudulent Trading, Wrongful Trading, Insider Trading – Offences Money Laundering – Elements of the offence, reporting obligations, penalties/sanctions Law & Ethics

Section 1: Ethics – Corporate Governance Main Provisions of the Stock Exchange Listing Rules – Distinction between executive and non-executive directors – balance on the board – Committee of NED’s to determine ED’s salaries – Contracts of 1 year duration – Distinction between CEO and Chairman of the Board – Audit Committee – Transparent accounting procedures List of sources Law & Ethics

Section 1: Ethics – ATI Code of Ethics Five fundamental principles Three stages of the disciplinary process – Complaints Committee » Composition, rights of a student/members, sanctions – Disciplinary Tribunal » Composition, rights of a student/members, sanctions – Appeals Tribunal » Composition, rights of a student/members, findings Compulsory question: Maybe problem based and mixture of topics Law & Ethics

Compulsory Ethics Question: 1. Learning one topic and not the other 2. Not learning topics in sufficient detail 3. Learning past paper answers only 4. Insufficient revision 5. Very good students obtained full marks Common Exam Mistakes

Section 2: Company Law – Types of business entities Partnerships – Characteristics, Creation, Duties, Liability, Retirement, Dissolution Limited companies – Characteristics, distinction, formation procedure (content of constitutional documents + alteration), certificate of incorporation – One Exam Question guaranteed Law & Ethics

Section 2: Company Law – Company Finance Types of capital and classifications Types of shares Shares at a premium Shares at a discount Types of Debentures Fixed and Floating Charges – One Exam Question guaranteed Law & Ethics

Section 2: Company Law – Management of the Company Directors – Types, appointment, removal, qualifications/eligibility, duties –statutory Auditors – Appointment, removal, qualifications, rights and duties – One or Two Exam Questions guaranteed Law & Ethics

Section 2: Company Law – Internal Management of the Company Accounts/Returns – Content of the Annual Return, ARD – Audit exemption Meetings – Types, procedures When asked (not guaranteed) – one exam question Law & Ethics

Section 2: Company Law – Company Conclusion Administration – Role, powers duties, effect of appointment Liquidation – Qualifications, duties of the liquidator, priority of payments, types of liquidation & procedures – One Exam Question guaranteed Law & Ethics

Company Law Questions: 1. More to company finance than fixed and floating shares- debentures- learn the syllabus not past paper solutions 2. Liquidation and Administration are different 3. Internal management question- very easy topic but poorly answered 4. One word answers/summary style boxes- solvent v insolvent- be careful more detail may be required Common Exam Mistakes

Section 3: Introduction to Law – Sources of Law Precedent Distinction between civil and criminal law Jurisdiction of the Courts Primary and Secondary Legislation Primary & Secondary sources of EU law EU Institutions (ECJ) One exam question guaranteed Law & Ethics

Section 3: Introduction to Law – Contract Law Formation – offer, acceptance, consideration, intention & capacity Formalities – conditions, warranties, innominate terms, exclusion clauses Termination – discharge (inc. frustration) and remedies One exam question guaranteed Law & Ethics

Section 3: Introduction to Law – Employment Law Contracts of service/for services Unfair dismissal Constructive dismissal Redundancy One exam question only Law & Ethics

Section 3: Introduction to Law Agency Law – Types/classifications, creation, termination, duties Consumer Law – Sale of Goods Act, Consumer Protection Regulations – One exam question on EITHER topic Law & Ethics

Section 3: Introduction to Law – Tort Law Negligence: – Duty of Care – Standard of Care – Causation – Remoteness – Damages – Defences – Professional Negligence – One exam question guaranteed Law & Ethics

Introduction to Law Section: 1. There is more to sources of law than the differences between civil and criminal? 2. Contract and Tort poorly answered 3. Employment, Consumer and Agency well answered 4. Too much detail for marks awarded 5. Totally irrelevant answers Common Exam Mistakes

Students must: 1. Revise, revise, revise 2. Answer questions carefully 3. Look at the marking scale 4. Pass rate is 50% remember Additionally, exam presentation: 1. Write in dark coloured pen 2. Separate answers 3. Write clearly Conclusion