Tuesday, August 25, 2020

We googled you case study Example | Topics and Well Written Essays - 750 words

We googled you - Case Study Example For this reason, the organization required a triumphant group headed by an able group head. In any case, the competitor, Mini Brewster’s, inclusion in forceful social battles, as recorded over the web, was restraining the Hathaway Jones’ HR office to employ the applicant. Tenderizing her over the organization might hurt the picture of the business’ recently shaped activities in China. The principle issue includes Mimi Brewster’s acknowledgment into Hathaway Jones. The company’s CEO is sure about the applicant as Mimi is an exceptionally skilled and qualified person. Be that as it may, the company’s HR chief, Virginia, has a few reservations viewing Mimi’s previous exercises as a socially dynamic understudy during her years at Stanford. Her notoriety on Google dependent on the list items could harm the company’s picture among its purchasers and can particularly harm the possibilities of Hathaway Jones opening up in China. The CEO accepts that such episodes that are uncovered through the web and web based life could be overlooked in light of the fact that the ability pool is very constrained and Mimi is by all accounts the ideal fit. Likewise, the CEO is hesitant to bring in the competitor with the goal that they could hear her side of the story. Thus, the fundamental issue is in regards to relinquishing minor disparities that surf ace in the wake of considering the web history of a competitor. The principal answer for the issue is to call Mimi Brewster for a casual gathering alongside the HR supervisor so as to ask about her past exercises and inclusion in social battles during her college years. This would permit Mimi to explain her side in the event that the web and Google just inclined a specific point of view with respect to the issue in this manner misshaping the truth. The subsequent arrangement is to discover another possibility to fill the position whose search history is by all accounts truly spotless. This would

Saturday, August 22, 2020

Public utility management in australia Term Paper

Open utility administration in australia - Term Paper Example As per the Australian Government's Department of Climate Change and Energy Efficiency, Australia 'screens and records for its ozone depleting substance discharges from land based areas in its national stock through the Australian Greenhouse Emissions Information System (AGEIS) which represents the methane and nitrous oxide outflows from domesticated animals and harvest creation, while theNational Carbon Accounting System(NCAS) is right now planned toward responsibility of carbon emanations from farming, deforestation and forestry.ii Now facilitating the Sixth Annual Climate Change and Business Conference 2010, Australia has sequentially demonstrated its promise to a worldwide market respondent to privatization of the vitality advertise, and able administration of those movements through adept basic modification of the country's vitality policy.iii Quite a bit of what goes into administrative approach proposed for the 'open great.' Investment in ecological relief in the business network is normally receptive to administrative consistence or funding guarantee. The globalization of common assets and orderly approaches has brought about a tyranny of the vitality part as the principal need inside universal administration. It is not necessarily the case that genuine political changes among states have not additionally added to this new system of intensity. For example, since the breakdown of the previous Soviet Bloc nations, Eastern European vitality asset the executives has been one of the center monetary interests of global vitality possessions vested in the change from state to privatized joining. The basic change approaches of the 1990s, which prompted privatization strategies in second world economies are as yet influencing the authoritative limit behind vitality asset conveyance to populaces subordinate upon those powers of ar rangement between global vitality the executives partners, and at some point debased or immature lawful and administrative limit in those states.iv In Australia, the broadly adequate act of withdrawal of focal authority toward extreme guideline of the business by method of law, as opposed to volunteerism, was reached out to states which currently decide the administrative connection among vitality and customer showcase. Relatively, Australia has done much as far as advancing progressions in vitality development too, with an eye on innovation and vicinity to the Asian market, Australia is very much ready to take part completely and seriously in the new worldwide vitality showcase. The worldwide picture outside the district additionally uncovers differentiations. It is through an assessment of the thick administrative structure of the United States that we can perceive what Australia is, and what it isn't, regarding gathering to worldwide approach. Without, for example, radical window of correlation, in an equal customary law setting, we probably won't see the business, legitimate and political culture(s) at work in two unmistakab le economies of scale. In the United States, where the vitality business has been the extraordinary focal point of examination because of elevated level risk occurrences, for example, the Three Mile Island case. In the midst of reconfiguration of atomic force as a major aspect of a network of option, 'clean air' vitality alternatives, there is a critical push toward progression of administrative fitness. The paper centers around the effect of the environmental change

Monday, July 27, 2020

UGA Admissions iPhone App 3.0 - UGA Undergraduate Admissions

UGA Admissions iPhone App 3.0 - UGA Undergraduate Admissions UGA Admissions iPhone App 3.0 An updated version of our Admissions iPhone App has been released, available for download on any iPhone or iPod Touch for free from iTunes. This updated version has many new features including: At a Glance: Browse the high points of the University, its students, faculty, alumnus and athletics. Campus Tour: Explore theUniversityof Georgias historic North Campus on campus or right from your couch! On campus, your GPS enabled iPhone will detect your location on North Campus giving youinformationregarding your location. Get to know UGAs beautiful North Campus before you visit! (iOS 5 or higher is required for the tour) Majors: Still deciding on a major? The Majors tool provides an easy to use reference to all majors available at UGA. Info Request: Want information about the University and Admissions? Provide us with your contact details and well keep you in the loop on Admissions news and events. Timelines: A quick reference on important dates regarding your application. Traditions: Learn about UGA traditions such as the ringing of the Chapel bell, the Arch and our tenacious sports fans with the Traditions feature. Orientation: Headed to Orientation? Have access to the full schedule, learn UGA Lingo and meet the OLs. You can even make sure youve done everything neededpriorto arriving with the to-do list! Status Check: While this feature isnt new, it is a very important tool that can help you make sure you have submitted everything we need. This is also the first place you will see your admissions decision. Download the Admissions App today! Go Dawgs!

Friday, May 22, 2020

Business Law Answers - 4935 Words

Business Law Business Law: Unitï ¿ ½1 Review: 1.A law that restricts a fundamental right violates substantive due process unless it promotes a compelling or overriding state interest. TRUE 2. Owen claims that a Pennsylvania state statue infringes on his substantive due process rights. This claim focuses on: the content of the statute 3. A Rhode Island state statute imposes a prison term, without a trail, on all street vendors who operate in certain areas. A Court would likely hold this statute to be : unconstitutional under the due process clause 4. Leo, a resident of Missouri, owns a warehouse in Nebraska. A dispute arises over the ownership of the warehouse with Opal, a resident of Kansas. Opan files a suit aagainst Leo in Nebraska.ï ¿ ½Ã¢â‚¬ ¦show more content†¦In this situation: the contract is suspended. 8. On April 1, KO Contractors, Inc. Contracts to build a store for Lo-Cost Jewelry a specific location in Metro City.ï ¿ ½ On May 1, Metro changes its zoning laws to prohibit the construction of a commercial building at the location. Lo-Cost files a suit aagainst KO. In this situation: the contract is discharged. 9.Carol pays Dick $10,000 for Dick to design an advertising campaign for Carol s health club. The next day, Dick tells carol that he has accepted a job in New York an cannot design the campaign.ï ¿ ½Carol files a suit against dick. Carol can recover: $10,000. 10. Dan hires Eve to perform at Dan s Club, but Eve later breaches the agreement to accept a higher-paying job at First Star Arena. Dan files a suit gainst Eve. The court will most likley: award damages to Dan. ï ¿ ½ Unit 4 Review: ï ¿ ½1. Under the UCC, a sale occurs when title passes from a seller to a buyer for a price. TRUE 2. Patents and copyrights are property that doesï ¿ ½not come under Article 2. TRUE 3. NuTech Company agrees to sell computer equipment to Office Stores, inc (OSI) for OSI to make to its customers. Their construct will be unenforceable if it does not include: the quantity of the goods. 4. United Farms offers to sell Value Bakeries, Inc., fifty bushels of wheat.ï ¿ ½ values representative Wendy responds, We agree to buy fifty bushels only if the wheat is Grade A quality. Wendy s statement is: a counteroffer. 5. Kelly offers to buy 1,000Show MoreRelatedBusiness Law Questions and Answers10157 Words   |  41 PagesANSWERS TO AICPA QUESTIONS CHAPTER 10 INTELLECTUAL PROPERTY RIGHTS AND THE INTERNET 1. (a) Computer software is covered under the general copyright laws and is therefore usually copyrightable as an expression of ideas. Answer (b) is incorrect because copyrights in general do not need a copyright notice for works published after March 1, 1989. Answer (c) is incorrect because a recent court ruled that programs in both source codes, which are human readable, and in machine readable objectRead MoreBusiness Law Questions and Answers1886 Words   |  7 Pagesby Contract Law. Contractual nature A contract can be difened as â€Å"an agreement containing promises made between two or more parties with the intention of creating certain legal rights and obligations and enfoufceable in a court of law†. (Andy Douglas, 2013, p.307). Though every contract involves an agreement, not every agreement is legally forceable and will result in contract. It is necessary to find out weather the agreement between parties was inteded to be regarded by the law as valid andRead MoreBusiness Law Questions And Answers1477 Words   |  6 PagesShort answer questions 1. Take the case of a US firm that wishes to invest some funds (US dollars) for a period of one year. The choice is between investing in a US bond with one year to maturity, paying an interes1t rate of 2.75 percent, and a UK bond with one year to maturity, paying an interest rate of 4.25 percent. The current exchange rate is $1.46 per pound, and the one-year forward exchange rate is $1.25 per pound. Should the US firm invest in US bonds or in UK bonds? The US bondRead MoreBusiness Law I Chapter 9 Answers1010 Words   |  5 PagesChapter 9 Answers: 1. Consideration consists of mutual exchange of gains and losses between contracting parties. In the exchange, a gain by the offer is at the same time a loss to the offeror. The legal term used to designate the gain that each party experiences is that party s legal benefit. Consideration has three characteristics 1) The agreement must involve a bargained-for exchange; 2)the contract must involve adequate consideration; and 3) the benefits and detriments promised must themselvesRead MoreWhat Are The Types Of Business Organizations ( Sole Proprietorship, Partnerships, And Corporations1090 Words   |  5 PagesThe Cardigans want to expand their business ventures. Cora and Caley have discussed the idea of operating a home dà ©cor store with the Cardigan family logo on the goods. The idea behind this type of business is to advertise goods that will make consumers feel that their homes represent a Cardigan lifestyle. The Cardigans would like decide what to name their new business, as it is so different from their usual business variations of clothing and sweaters. Some of the names they have come up with includeRead MoreFinance Management Overview Essay examples1186 Words   |  5 PagesForms of business organization Answer: c [i]. Which of the following could explain why a business might choose to organize as a corporation rather than as a sole proprietorship or a partnership? a. Corporations generally face fewer regulations. b. Corporations generally face lower taxes. c. Corporations generally find it easier to raise capital. d. Corporations enjoy unlimited liability. e. Statements c and d are correct. Firm organization Answer: a [ii]Read MoreAcme Fireworks Essay990 Words   |  4 PagesFinal Paper Proposal James Collier BUS311: Business Law I Instructor: Daniel Malvin 9-1-2014 A sole proprietorship is a one-person business that is not registered with the state as a corporation or a limited liability company (LLC). The owner of the Acme Firework is a sole proprietor that has never changed his business entity. A sole proprietor can be held personally liable for any business-related obligation. This means that if your business doesnt pay a supplier, defaults on a debt, orRead MoreTutorial of Enterpreneur1126 Words   |  5 Pagestend to overestimate or underestimate their knowledge of the laws that pertain to starting a new firm? What does answer to this question suggest that entrepreneurs do before they start a firm? In general, entrepreneurs tend to overestimate their knowledge of the laws that pertain to starting a new firm. Before entrepreneurs start a firm, they should seek for lawyer to get some legal advice, get sources and information about the business, refer to book, or search the information thru the internetRead MoreLaw Firm Of Firm Law1567 Words   |  7 PagesLaw firm of Firm Law LLP Sole proprietorship, partnerships, and corporations are just a few different organization entities that people use when starting a new business. One can change from one business type into another using proper paperwork and by abiding state rules and regulations. There are various factors to consider when starting a business such as the nature of the business being started, the business type, investments or funding, and employees. First, we will examine what business typeRead MoreDifferent Types of Businesses924 Words   |  4 PagesBusiness Scenario As discussed there are three different types of businesses, sole proprietor, partnership and corporations. With these businesses come many advantages and disadvantages that one will have to determine will best suit their own lifestyle. Starting a business is something very serious to plan and make sure you have the necessary financial backing to keep it running, and have the legal knowledge to keep yourself and organization covered. Lastly, if you have the knowledge and product

Friday, May 8, 2020

Social Media Marketing The Fast Food Industry Essay

Social Media Marketing Strategy in the Fast Food Industry The fast food industry is one of the largest industries in the United States. The industry has been growing at a very fast rate over the past few years and shows signs of slowing down. The industry’s growth has been fuelled by intensive media campaigns and the country’s love for fast food. Social media marketing has also fuelled the growth in the fast food industry. With fewer advertisements on television, fast food chains have invested heavily on social media advertising as a way of reaching a wider audience. Social media platforms such as Facebook, Twitter, LinkedIn and Youtube are some of the popular avenues used by fast food restaurants to market their products. Different companies use different social media marketing strategies. However, the end goal is the same; to increase sales. In this perspective, it is important to examine how fast food companies use social media as a marketing tool and whether it has been successful or not. Reasons Why Fast Food Restaurants use Social Media One of the key reasons why fast food restaurants use social media is to increase their target market. Social media platforms have opened up the world in such a way that whatever is posted on these platforms reaches a global audience. Looking at some of the fast food restaurants social media pages reveals that they have millions of followers, from all over the world. Through social media, they are no longer limited to the localShow MoreRelatedMarketing Plan For Taco Bell1556 Words   |  7 PagesExecutive Summary Taco Bell is a mainly national fast food restaurant specializing in Tex-Mex cuisine. Taco Bell is a subsidiary of Yum! Brands, Inc. They serve over 2 billion customers each year and have over 6,500 restaurants, with about 80% of them being owned independently as franchises. Vision Mission Vision – Taco Bell will grow into the largest fast food provider of Mexican style cuisine in emerging markets. The brand will have an established presence in Asia, South America, and AfricaRead MoreLasting Effect Of Marketing On Children Essay1623 Words   |  7 PagesLasting Effect of Marketing to Children In the past few decades, fast food companies has invested heavily in advertising to children and young adults, in return they’ll become the future of consumers of the next generation prolong business profits. Children between the ages 8 to 12 years old are exposed highest to fast food media marketing and those years are critical stages of development as this forms their eating habits for adulthood. Fast food corporations are utilizing all sources of outletRead MoreMarketing Environment Analysis1338 Words   |  6 PagesRegulatory Regulations around food trucks can very wildly depending on locations. They must meet many similar codes and regulations that restaurants do because of food safely laws(â€Å"How to Start a Retail Food Business†) . They must also be knowledgeable able of all of the local sanitation regulations. A lack of regulations though is linked with a growth in the industry (Odendahl 2012). Vending laws also play a big part, when and where can your truck operate? Your location influence this a lotRead MoreNon Communicable Diseases ( Ncds )1322 Words   |  6 Pagesdisease.† The main causes of NCDs are unhealthy diet and physical inactivity (WHA, 2004). Although there are other significant contributing factors as well like tobacco and alcohol use but unhealthy food and inactivity are relatively more common risks due to increased trends of sedentary lifestyle and junk food consumption. Moreover very less attention has been given in preventing this rapidly penetrating risk factors of unhealthy diet and lack of exercise in communities. Majority of NCDs are closely relatedRead MoreSwot Analysis Of Doughnut Time ( 2016 )1646 Words   |  7 Pagescapitalise on the use of social media, unique locations and offerings (refer to table 1). Despite desserts being considered non-essential, high levels of competition and healthy eating trends (refer to table 1), the business has successfully established itself within the fast food and dessert industry, which is set to grow in the next five years (Tonkin, 2016). The company has a distinctive vintage flair, yet modern take on doughnut names and designs, becoming popular on social media (Doughnut Time, 2016)Read MoreChipotle Market Segmentation And Product Strategy1155 Words   |  5 PagesChipotle headquarters are located at 1401 Wynkoop Street, Denver, Colorado 80202. The company operates in the restaurant industry and more specifically the fast casual Mexican restaurant market. Market Segmentation Analysis Chipotle Mexican Grill is a fast casual Mexican Restaurant that operates from the United States. Although the restaurant is specifically segmented to the fast casual Mexican restaurant market, it does not simply operate in this realm. Chipotle is also successful operating in theRead MoreFast Food Essay936 Words   |  4 PagesFood is a necessity in life. In making the right choices, we can have a healthy life. Sadly, America is not making those healthy choices. Contrary to our education and information about junk food, the fast food industry is still ever growing to this day. The fast food industry in America is an excellently funded, well-oiled machine that will not stop until we make better choices as consumers. 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And also finds out that how they can improve in employees, quality or the advertisement. It also conducts swot analysis for marketing success. McDonalds sets up their marketing strategies according to swot analysis. McDonalds started improving their menus according to their customers needs. AndRead MoreObesity in America: Fast Food Restaurants are NOT the Problem918 Words   |  4 PagesWith the continued growth of fast food restaurants, low priced food, and fast friendly service, these restaurants have become very appealing to the average consumer. With this increase in popularity, there has come many problems for these companies associated with the fast food industry. These stores are being blamed for the rise of obesity and other health issues in America; leading to many wanting a ban or probation on these fast food restaurants. The Government has stepped in on this issue and

Wednesday, May 6, 2020

The Securities Market in Vietnam Free Essays

string(81) " the case of shares and bonds\) and the legal representative of the underwriter\." The Securities Market in Vietnam – 14 March 2007 This article is an introduction to the legal framework that governs the securities market in Vietnam, in particular public offers, listing, public companies and buying shares. This article focuses on the provision of Law 70-2006QH11 of the National Assembly on Securities (Law 70) and Decree 14-2007-ND-CP of the Government dated 19 January 2007 Providing Detailed Regulations for Implementation of a Number of Articles of the Law on Securities (Decree 14) . The MOF is to shortly issue a regulation to further provide guidance to the SSC on regulating and establishing investment funds, securities companies and fund management companies. We will write a custom essay sample on The Securities Market in Vietnam or any similar topic only for you Order Now An update will be provided once the regulation has been promulgated. 1. 1. 1 Relevant bodies The State Securities Commission (SSC) The SSC is the official regulator of the stock exchange, and is overseen by the Ministry of Finance (MOF). The HCMC Securities Trading Centre (HCMCSTC) The HCMCSTC is an administrative unit of the SSC. It is a securities trading and listing market and offers and official mechanism through which new government bonds are issued and is the secondary markets for several existing bonds. Currently, the HCMCSTC is an administrative unit under the SSC. Under Law 70 it is to covert to either a Stock Exchange or a Securities Trading Centre in the form of a limited liability company or a shareholding company by July 2008. It is expected that the HCMCSTC will be converted into a Stock Exchange. 1. 2 1. 3 The Hanoi Securities Trading Centre (HASTC) The HASTC is an administrative unit of the SSC. It is a securities trading and listing market and offers and is also Vietnam’s official over-the-counter market for securities. Under Law 70 it is to covert to either a Stock Exchange or a Securities Trading Centre in the form of a limited liability company or a shareholding company by July 2008. It is expected that the HASTC will be converted into a Securities Trading Centre. 2. Public offer (PO) In Vietnam the processes of a public offer (PO) and listing are different, although companies may do the two simultaneously. A PO is an offer to sell shares, bonds or fund certificates via the mass media, or to at least 100 investors excluding institutional investors or to an unspecified number of investors. 2. 1 Participants (a) The issuer or issuing organization. This is the enterprise making the PO. The securities may be listed or unlisted. Underwriters. Securities in a PO may be distributed by underwriters. Underwriters must be securities companies authorized to underwrite issues of securities or a commercial banks approved by the SSC to underwrite issues of bonds, on conditions regulated by the MOF. The role of the underwriter is to assist the issuer to complete procedures prior to the PO, to purchase the securities for resale or the unsold portion of the securities from the issuer, and to assist the issuer to distribute the securities to the public. Custodian banks. These are commercial banks that are either domestic or foreign invested (that is, not an offshore licensed bank) and are licensed to carry out securities depository activities including the keeping and maintaining of securities.  © Allens Arthur Robinson – Vietnam Laws (b) (c) (d) Investors. Investors who wish to purchase securities may be Vietnamese or foreign investors but foreign investor must first apply for a securities trading code. Foreign investment is also subject to limitations (discussed below). 2. 2 Currency and par value Securities offered by a PO must be denominated in Vietnamese dong. The par value for shares and fund certificates is VND10,000 and the minimum par value for bonds is VND100,000 . Conditions for a PO (a) Shares. An issuer of shares must be a shareholding company with paid-up capital of at least VND10 billion at the time of registration of the PO, must have made a profit in the year prior to the PO and must not have accumulated losses as at the year of registration of the offer. The general meeting of shareholders1 of the issuer must pass an issue plan and plan for utilization of the proceeds earned. 2. 3 Under Decree 14 other specific conditions apply to newly established enterprises conducting an initial public offer if the enterprise is in the infrastructure or high-tech sectors. These conditions include the obligation for there to be an underwriter, and the obligation for there to be a bank supervising utilization of the proceeds earned from the offer. (b) Bonds. An issuer of bonds must have paid-up capital of at least VND10 billion at the time of registration of the PO, must have made a profit in the year prior to the PO, must not have accumulated losses as at the year of registration of the offer and must not have more than 100 overdue debts payable. The board of management or members’ council of the issuer (as applicable) must pass an issue plan and plan for utilization and repayment of the proceeds earned. The issuer of bonds must also give an undertaking to investors to discharge it obligations. In the case of convertible bonds the issue plan and plan for utilization proceeds must also have a plan for issuance of the shares for conversion and all plans must be passed by the general meeting of shareholders (not the board of management). (c) Fund Certificates. Issued fund certificates must have total value of at least VND50 billion. There must also be an issue plan and a plan for investment of the capital funds earned. 2. 4 Prospectus Issuers of a PO must prepare a prospectus. The main contents for a prospectus are prescribed in Law 70 and the MOF has been delegated the task of creating a sample form prospectus. Among other things, the prospectus must include the financial statements of the issuer for the 2 years prior to the issue of the PO. The prospectus must be signed by the chairman of the board of management, the general director, the financial director/accountant (only in the case of shares and bonds) and the legal representative of the underwriter. You read "The Securities Market in Vietnam" in category "Essay examples" . 5 Registration The issuer must register the PO with the SSC. To register, the issuer must submit a request for registration and attach those documents that are required by Law 70 (and which will be given more detail in specific regulations of the MOF). The documents required include the prospectus, the charter (or in the case of a PO of fund certificates, the proposed charter o f the securities investment fund) and relevant resolutions and undertakings by the issuer. In the case of a PO for fund certificates the 1 In the case of a enterprise with foreign owned capital that is converting to a shareholding company in combination with making a public offer of shares, Decree 14 clarifies that the issue plan and plan for utilization is passed by the owner of the enterprise with 100% foreign owned capital and the board of management of a joint venture enterprise. 2  © Allens Arthur Robinson – Vietnam Laws contract for supervision between the custodian bank and the securities investment fund must also be submitted. The SSC has 30 days from receipt of the registration statement to certify registration. . 6 Announcement Within 7 days from certification of registration the issuer must make a public announcement in 3 consecutive newspaper issues. The announcement must stipulate the time in which investors have to register to purchase the securities. The time limit can be set by the issuer but must be a minimum of 20 days. Registration to purchase and payment of monies When an investor registers to purchase the securities it must pay the purchase price into an escrow bank account and this money will remain in escrow until completion of the PO. Allocation and delivery The issuer must allocate the securities within 90 days from the SSC’s certificate of acceptance, and physically deliver the securities to investors within 30 days from the date the offer ends. 2. 7 2. 8 3. Listing Listing is the process of taking a privately-owned organisation including an equitized or equitizing State owned enterprise (SOE) and making the transition to a publicly-owned entity whose shares can be traded on the HCMCSTC or HASTC. 3. Conditions, application and procedures for listing The regulations on the conditions, application files and procedures for listing a company are not contained in Law 70, they are contained in Decree 14. The conditions for listing on the stock exchange (of which there are currently none in Vietnam) are different from the conditions to list on a securities trading centre. However, in anticipation of the HCMCSTC converting to a stock exchange, new registrations for listing on the HCMCSTC must satisfy the conditio ns applicable for stock exchange listings, while existing listed companies on the HCMCSTC have two years to satisfy these conditions. Companies failing to meet these requirements will have their listing moved to the HASTC. Conditions, application and procedures for listing on the Stock Exchange/HCMCSTC (a) Shares. The listing company must be a shareholding company with paid-up capital of at least VND80 billion at the time of registration for listing, must have made a profit in the two years prior to year of listing and must not have accumulated losses as at the year of registration for listing. There must not be overdue debts payable (unless a lawful reserve has been made for them) and there must be public disclosure of all debts owed to the company by officers2 and major shareholders. At least 100 shareholders must own 20% of the voting shares of the listing company, and there must be an undertaking from shareholders who are also officers of the company to hold 100% of their shares for 6 months from the date of listing and 50% of their shares for the following 6 months. Bonds. The listing company or SOE must have paid-up capital of at least VND80 billion at the time of registration for listing, must have made a profit in the two years prior to year of listing and must not have overdue debts of more than 1 year. There must be at least 50 bondholders in any one bond issue. 3. 2 (b) 2 Officers are the members of the board of management, members of the board of controllers, director, general director, deputy director, deputy general director and chief accountant.  © Allens Arthur Robinson – Vietnam Laws (c) Fund Certificates. Issued fund certificates must have total value of at least VND50 billion. There must be an undertaking from the initial shareholdings and members of the committee of representatives of the fund to hold 100% of their shares for 6 months from the date of listing and 50% of their shares for the following 6 months. There must be at least 100 owners of fund certificates. 3. 3 Conditions, application and procedures for listing on the H ASTC (a) Shares. The listing company must be a shareholding company with paid-up capital of at least VND10 billion at the time of registration for listing, must have made a profit in year prior to year of listing and must not have overdue debts of more than 1 year (with no current debts or financial obligations to the State). There must be at least 100 shareholders with voting shares, and there must be an undertaking from shareholders who are also officers of the company to hold 100% of their shares for 6 months from the date of listing and 50% of their shares for the following 6 months. The conditions relating to profitable business operations and overdue debts do not apply to newly established enterprises in infrastructure and high-tech sectors or equitizing SOEs. (b) Bonds. The listing company or SOE must have paid-up capital of at least VND10 billion at the time of registration for listing, and all bonds in the issue must have the same maturity date. Other types of securities. The task of stipulating conditions for listing other types of securities has been delegated to the MOF. (c) 3. 4 Registration The listing enterprise must register with the relevant exchange or trading centre. To register the listing enterprise must submit a registration slip and attach those documents that are required by Law 70 (and which will be given more detail in specific regulations of the exchange/trading centre). The documents required include the prospectus, relevant corporate resolutions, register of shareholders/bondholders and required undertakings. The exchange/trading centre has 30 days from receipt of the registration slip to approve or refuse the application. 3. 5 Trading Current guidelines on securities, membership of the HCMCSTC/HASTCand trading in securities are contained in Circular 583 implementing Decree 1444. In time, Circular 58 should also be repealed by a new circular implementing Law 70 and Decree 14. In the interim the HCMCSTC and the HASTC continue to apply the day to day trading rules contained in the Circular 58. In addition, under Law 70, the HCMCSTC and the HASTC each are given the responsibility to issue regulations on the trading of listed securities within their respective centres. 3. 6 Other trading Securities listed on a Stock Exchange cannot be traded outside the Stock Exchange, unless otherwise stipulated in the trading rules of the Stock Exchange. In comparison, securities listed on a securities trading centre (STC) can be traded at a securities company which is a trading member of the STC. 3. 7 Taxation holidays – almost over Previously, to encourage investment in Vietnam’s securities market, various incentives were offered, 3 4 Circular 58-2004-TT-BTC of the Ministry of Finance dated 17 June 2004. Both Circular 58 and Decree 144 were issued before Law 70 and Decree 14, and must be read down to the extent of the inconsistency. 4  © Allens Arthur Robinson – Vietnam Laws ncluding preferential corporate income tax rates to companies upon listing. However, this preferential tax treatment ceased on 1 January 2007. Dividends from shares have been free of personal income tax since 1994. However this very long â€Å"temporary exemption† is expected to come to an end under the proposed Law on Personal Income Tax, which was considered by the National Assembly in October-November 2006 and is expected to be passed in 2007. If passed in its current draft form, dividends from shares will be subject to personal income tax at a proposed rate of 5% from 1 January 2009. . Public companies A public company is a newly introduced concept in Vietnam. A public company is a shareholding company with any of the following characteristics: †¢ †¢ †¢ Shares have been issued via a PO. Shares are listed on the HCMCSTC or the HASTC. Shares are owned by 100 or more investors, excluding professional securities investors, and have a paid-up charter capital of VND10 billion or more. Importantly, a company does not have to be listed to be deemed a public company. New rules introduced for public companies include: 4. Filing A public company must lodge the public company file with the SSC within 90 days of becoming a public company. The public company files comprises the company’s charter and business registration certificate, the most recent financial statement and summarized information o n its business operations scale, management organization and shareholding structure. Major shareholders A shareholder of a public company is deemed to be a major shareholder when it holds directly or indirectly (undefined) 5% or more of the voting shares the company. Upon becoming a major shareholder, the shareholder must report to the SSC and the HCMCSTC or HASTC (depending on where the shares of the public company are listed/offered). The information that must be reported is not extensive: only details of the investor (name, address) and details of the shares (number, percentage). However, important changes to this information, including a change of the number of shares in excess of 1%, must also be reported. Takeovers An offer to purchaser 25% or more of the voting shares in a public company must be made by a â€Å"public offer to acquire†. The public offer to acquire must be registered with and approved by the SSC (the law does not detail any criteria or basis for the approval) and must be announced in the mass media. Of note, if after implementation of the public offer to acquire, the acquirer holds 80% or more in the public company, the acquirer must, if the remaining shareholders so request, acquire the remaining shares at the announced price of the offer to acquire. 4. 4 Disclosure requirements A public company must publicly disclose certain information and report it to the SSC. Annually, a public company must disclose its audited financial statements. In addition, it must disclose information within a short period (24 hours, or 72 hours) upon the happening of a prescribed event, for example if an account of the public company is frozen (within 24 hours) or if a decision is made to borrow bonds with a value of 30% or more of the company’s equity (within 72 hours). 4. 2 4. 3 5  © Allens Arthur Robinson – Vietnam Laws 5. 5. 1 Foreign investors – how to purchase shares Unlisted shares To contribute capital or purchase shares in Vietnamese enterprises, foreign investors must open a Vietnamese dong capital contribution and share purchase account (Account) at a commercial bank operating in Vietnam. All transfers of funds for the purpose of contributing capital, purchasing and selling shares, transferring capital contribution, receiving and using dividends or profits distribution, or purchasing foreign currency from authorised banks for remittance abroad and other transactions relating to any activity of capital contribution or purchase of shares in Vietnamese enterprises by foreign investors must be performed through this Account. Further, this Account may only be used for capital contributions and share purchase activities. Within 2 working days from the date of opening the Account at a commercial bank, the foreign investor must register the Account with the State Bank (Department of Foreign Exchange Control). Under law, the State Bank must certify registration of the account within 5 working days, or otherwise provide written notice of its reasons for refusing to provide certification. A foreign investor is only allowed to perform receipt or payment transactions through the Account after obtaining a document on certification of account registration from the State Bank. Therefore it is important for potential investors to organize this account well in advance of the relevant share purchase date. Other than the controls over the Account, trading in unlisted shares is largely unregulated. 5. 2 Listed shares The foreign investor must apply for a securities trading code from the HCMCSTC/HASTC. The application consists of an application form and supporting documents. Unfortunately, the supporting documents that originate outside Vietnam (for example the constitution and establishment documents of the foreign investor) are subject to the tedious requirements of notarization and certification. Investors must then open a VND securities trading account with a registered broker in accordance with Decision 15505 to service activities of the purchase and sale of securities. The following accounts must be opened by the broker at an authorized bank in Vietnam: (a) a specialized, on-call foreign currency deposit account, into which foreign currency of the foreign investor is deposited (i) for the purpose of conversion into VND for purchase of securities or (ii) after conversion from VND for the purpose of remittance overseas or other authorized foreign currency remittances in Vietnam; and (b) a specialized, on-call VND deposit account, into which all VND amounts (after conversion from foreign currency) and all VND income from securities nvestment is transferred and from which all VND remittances for purchase of securities or for conversion into foreign currency is made. Listed share certificates must be centrally deposited at the Vietnam Securities Depository (VSD). This happens in two steps: first, the owner deposits the certificates with a depository member (for example, the broker or depository bank) and second, the depository member in turn deposits th e certificates at the VSD. Cash settlement is made via the settlement bank, which is the BIDV. 6. 6. 1 Foreign investors – restrictions Prohibited and conditional sectors Four prohibited sectors are listed in the 2005 Law on Investment. These sectors apply equally to foreign and local investors. Nine conditional sectors are listed in the 2005 Law on Investment. These sectors also apply equally to foreign and local investors. In addition foreign investment is conditional in 13 sectors specified in Decree 108 and ‘other investment sectors in international treaties of which Vietnam is a member and which restrict the opening of the 5 Decision 1550-2004-QD-NHNN of the State Bank of Vietnam dated 6 December 2004. 6  © Allens Arthur Robinson – Vietnam Laws market to foreign investors’. It is not yet clear what the conditions are, and whether they may include restrictions on indirect investment. 6. 2 Other restrictions The current (to the extent that they have not been specifically repealed) laws of Vietnam consist of the following restrictions: (a) (b) (c) There is a cap on total foreign shareholdings in or capital contributions to any one unlisted domestic business of 30% of the charter capital (30% rule). The range of unlisted companies in which foreign investors may purchase shares is also restricted by sector (only 35 business lines are permitted). Foreign investors may hold a maximum of 49% of the total shares of any one company listed at a stock exchange or registered for trading at a securities trading centre (49% rule). Although not yet specifically repealed these restrictions may be affected by the 2005 Law on Investment which stipulates â€Å"investors must be permitted to invest in all sectors and in all industries and trades which are not prohibited by law†. Therefore under this general rule foreign investors should be (in theory) permitted to invest in all sectors and all industries provided that they are not in a prohibited or conditional sector (as above). It is not clear if the authorities will interpret the 30% rule and the 49% rule as being repealed by or alternatively, qualifying the Law on Investment. We consider that the better view is that these rules should be repealed by the Law on Investment. This view is consistent with the WTO principle of national treatment. However, we understand that in a meeting held on 18 January 2007 between the Government Office, the Ministry of Finance and the SSC the Government Office expressed the Prime Minister’s opinion that the 49% rule would continue to be applied ‘temporarily’. In any event, specific restrictions will continue to apply to conditional sectors (for example, banks) in accordance with commitments made under international agreements. 7. 7. 1 Securities Industry Players General Securities companies and fund management companies are the key players in the Vietnamese securities industry. This section provides an overview of the scope of activities under Law 70 of these companies Securities company As at 29 December 2006, the SSC has issued 55 operational licenses to securities companies under the previous securities law regime. After the effective date of Law 70, being 1 January 2007, there have not been any operational licenses issued and the most likely reason is that the implementing regulations for Law 70 have not been promulgated to guide the SSC in its work. Under Law 70, securities companies are permitted to engage in any or all of the following activities (the minimum legal capital is listed along side each of the activity): (a) (b) securities brokerage (VND 25 billion); securities self-trading (if the securities company engages in this activity it can only conduct the other activity of underwriting) (VND 100 billion); underwriting issues of securities (VND 165 billion); securities investment consultancy (VND 10 billion); financial consultancy services; and other financial services. . 2 (c) (d) (e) (f) The permitted areas of activity are limited compared to the business areas permitted under the old securities law regime. The prescribed minimum legal capital has also increased. This explains why there was a rush towards the end of 2006 to obtain a securities company license from the SSC. 7  © Allens Arthur Robinson – Vietnam Laws 7. 3 Fund Management Company Prior to the effective date of Law 70, eighteen operational licenses were issued by the SSC to fund management companies. Again there was a rush to obtain a license towards the end of 2006 because the scope of business activities has been restricted under Law 70. A fund management company can only engage in fund management and portfolio management and the minimum legal capital for establishment is VND 25 billion. 8. Funds This section provides a brief overview of investment funds as this is the subject of a detailed paper which will be released once the MOF has settled the regulation on investments funds and other related matters. Investment funds have been driving the bullish Vietnamese stock market. There have been a growing number of offshore and onshore investment funds established in recent years. At least 25 investment funds are operating in the market with an objective of investing in Vietnam. The Prime Minister has reportedly indicated that regulations on capital controls would be tightened to prevent capital flight which probably means that the MOF’s soon to be released regulations would introduce further regulatory controls on the operation of Funds. In brief, Law 70 sets the framework for the establishment of onshore public and members’ funds. Public funds and members’ funds must have at least VND 50 billion in start up capital and managed by a fund management company. A public fund may be an open or closed ended fund with at least 100 investors. A members’ fund must have up to 30 investors. Assets of a fund are to be held by a custodian bank. The MOF’s future regulation is expected to contain other operational requirements. This article was written by Julia Howes, a lawyer with Allens Arthur Robinson who has been practicing in Vietnam for 3 years. Allens Arthur Robinson is one of the largest international law firms in Asia, with more than 900 lawyers, including 179 partners. Allens Arthur Robinson has been providing legal services for clients in Australia for more than 180 years and in Asia for the past 30 years. Our Vietnam practice is managed by partners Bill Magennis in Hanoi and Nigel Russell in Ho Chi Minh City, both of whom joined the Allens Arthur Robinson partnership from 1 January 2007. The Vietnam practice was established in 1993 and is one of the largest and most successful among foreign law firms in the country. For further information, please contact: Bill Magennis Partner, Hanoi Ph: +84 4 936 0990 Bill. Magennis@aar. com. au Nigel Russell Partner, Ho Chi Minh City Ph: +84 8 822 1717 Nigel. Russell@aar. com. au Steve Pemberton Partner, Singapore Ph: +65 6535 6622 Steve. Pemberton@aar. com. au Jim Dunstan Executive Partner – Banking Finance and Asia offices, Sydney Ph: +61 2 9230 4571 Jim. Dunstan@aar. com. au Simon Lynch Partner, Melbourne Ph: +61 3 9613 8922 Simon. Lynch@aar. com. au Jeremy Low Partner, Sydney Ph: +61 2 9230 4041 Jeremy. Low@aar. com. au This publication is copyright. Except as permitted under relevant laws, no part of this publication may be reproduced by any process, electronic or otherwise, without the specific written permission of the copyright owner.  © Allens Arthur Robinson 8  © Allens Arthur Robinson – Vietnam Laws The material contained in Vietnam Client Updates is intended to inform you of recent legal developments in Vietnam. It is not intended, and should not be relied upon, as legal advice. Should you wish further information in relation to any legal instrument or matter mentioned in this issue, please do not hesitate to contact one of our offices. Ho Chi Minh City Suite 605 Saigon Tower 29 Le Duan Boulevard District 1 Ho Chi Minh City,Vietnam Tel +84 8 822 1717 Fax +84 8 822 1818 nigel. russell@aar. com. au Hanoi Suite 401 Hanoi Tower 49 Hai Ba Trung Hanoi, Vietnam Tel +84 4 936 0990 Fax +84 4 936 0984 bill. magennis@aar. com. au Allens Arthur Robinson – a leading international law firm with lawyers in: Bangkok | Beijing | Brisbane | Hanoi | Ho Chi Minh City | Hong Kong | Jakarta | Melbourne | Perth | Phnom Penh | Port Moresby | Shanghai | Singapore | Sydney 9  © Allens Arthur Robinson – Vietnam Laws How to cite The Securities Market in Vietnam, Essay examples

Tuesday, April 28, 2020

Marbury Vs. Madison Essays - Randolph Family Of Virginia

Marbury Vs. Madison As the government was newly establishing its stronghold on the nation, forging its way to a powerful republic and instituting precedents for the future, a struggle to preserve the foundations of American Society instituted by Washington and John Adams existed as Thomas Jefferson took office. In an attempt to maintain the edifice of the National Government believing Jefferson would topple the prestigious nation with his atheist views, Adams appointed various Federalists to the judiciary. Thus, attributing to the single most significant case of the Supreme Court, Marbury Vs. Madison, a struggle between Republicans and Federalists that would end in a future altered by fate. This controversial landmark case established the constitution as Supreme law of the United States and developed the power of the Supreme Court, enhancing its independence and proving it a nonpartisan instrument. It established the precedent for the Supreme Court to rule on the constitutionality of laws, through the p rinciple of judicial review. The development of this power to interpret the constitution instituted the flexibility of the constitution and the ability to forge a road of precedent unfamiliar to the new government, as well as firmly grounding the role of the Judicial Branch. To up hold the precedent already established in the united states by Federalists such as Washington and in fear of the Democratic republican ideas of Jefferson, Adams was determined to keep the federalists in office. Jefferson would have power over congress, but in a midnight appointment, Adams last day in office he created a judiciary with a stronghold of Federalism. A few technicalities derived into a failure to deliver the commissions and therefore once discover by Jefferson who saw them as a judiciary of ardent political leaders, they were kept from delivery. Jefferson, wanting control appointed some of his own judges, and attempted to abolish the jobs of the new circuit judges, of the few whom received their commission. Thus, threatening the foundation of a stable government and the independence of the judiciary system. John Marshall, Chief Justice, appointed by Adams despised Jefferson and sought to undermine his power and authority, which he felt was unjust. Madbury Vs. Madiso n gave him this opportunity, an opportunity to attack his enemy head on. He believed the judicial repeal act that Jefferson and this Secretary of State, James Madison, sought, was unconstitutional, and through these beliefs he acted boldly, instituting judicial precedent. William Madbury, feeling he had a right to his position of Justice of Peace, asked the Court to issue an order forcing Madison to appoint Marbury, whose commission he was with holding in order to replace him with a Republican. Marshall demanded an explanation why such a writ should not be ordered, thus attempting to assort authority over the Executive Branch. Marshall was determined to assail upon Jefferson and used this case as an excuse, especially because of the abolition of the circuit courts and the postponement of the next Supreme Court hearing, to by time. Jeffersonians then attempted to obstruct the truth and sly away from responsibility, ultimately not facing up to the accusations of with holding viable commissions, and a sending the supreme court into a round about investigation, in which officials refused to testify and failed to appear before the court. Marshall was questioning the authority of the executive branch, trotting on thin ground to be exact, and putting him sel f in an unstable predicament. With the Jeffersonians boycotting the hearing, Marshall was thrown into a position that would shape the future power of the Supreme Court. His only option stood to either issue the writ requested by Madbury, which was an act of contempt toward the executive branch, which might end in the impeachment of Marshall and reduce the prestige and authority of the Court. The only other option was to surrender to Jefferson, which was not a choice for Marshall, but he found a way out, giving him the title Founder of Constitutional law. Marbury was entitled to his commission and the acts of Madison were a violation of the law, but the Supreme Court could not authorize a writ, for it wasnt in their power. Marshall backed this weak argument up with section 13 of the Judiciary Act of 1789,