FPC001B Economic and Legal Context for Financial Planning - Analysis Task

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Analysis Task

Question 2 (10 marks| Word limit: 600 words)

Finding the law

As outlined in Topic 3, accessing legislation and the law is a relevant skill for people working in financial services. For this question, use online legal resources to locate the following information.

(a) Find section 942C of the Corporations Act, and provide:

  1. the full text of the heading of the section, and the online address (hyperlink) and date you accessed it  (1 mark)
  2. a brief summary of the purpose of the section (1 mark)
  3. the penalty applicable for a breach of section 942C(8).  (1 mark)

(b) In Austlii, locate the 2016 case involving Ostrava Equities Pty Ltd and provide the following details:

  1. the full case citation  (1 mark)
  2. the wording of the court’s findings in relation to the first defendant and their contravention of section 942C of the Corporations Act (1 marks)
  3. the orders which were sought by ASIC in 2016 that formed part of the reasons for judgment. (2 marks)

(c) Find and provide the following:

  1. the correct Harvard style citation of the ASIC Regulatory Guide (RG) that provides guidance to practitioners on how section 942C applies, including online address (hyperlink) and the date you accessed it (1 marks)
  2. from the relevant ASIC Regulatory Guide (RG), quote two ways in which a financial services guide may be provided (include the RG section references).  (2 marks)

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