JSB171 Lecture Notes - Lecture 1: Strickland V Rocla Concrete Pipes Ltd, Kuringgai, Commonwealth V Tasmania
Document Summary
S 51 the parliament shall have power, subject to this constitution, to make laws for the peace, order and good government of the cth with respect to: Corporations power s51(xx) (xx) foreign corporations, and trading or financial corporations formed within the limits of the cth. Foreign corporations: a company incorporated outside the cth that carries on business within the cth: nsw v cth o. Includes syndicates, joint ventures formed in countries with different corporation laws: Trading or financial corporations: approach the same for trading & financial corporations: per mason, murphy & deane jj in. Financial activities: transactions with subject of finance (= borrowing & lending money): deane j in ku-ring-gai. Cooperative building society (no. 12) ltd (fc) (corporation providing low interest loans to members for housing | ancillary objective of making profit financial corporation: common but not essential characteristic is obligation of both sides to pay money. Purpose test (now abandoned) what the corporation was incorporated to do: st george.
