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BUS200 Law Of Business Organisation

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Question

You have been asked to provide the legal committee of CAMAC with advice as to the role and effectiveness of the activities of ASX in its efforts to provide corporate governance principles to listed companies and corporate guidance to unlisted Corporations users.
 
You are to write a briefing paper that explains:
 
1.  The role that ASX have adopted in the area of corporate governance
 
2. The history and the evolution of the ASX Corporate Governance Principles and Recommendations tracing the changes from the 1st edition to the current 2014 edition.
 
3. The paper must discuss how the ASX is using the "if not why not" concept and how effective is that concept.
 
4. The briefing paper must also incorporate a consideration of the "two strike rule" and, by examining actual scenarios where it has been used, discuss it effectiveness.
 
You are expected to present your recommendations as to how the ASX Corporate Governance Principles can be used to improve the listing and compliance by public companies. You should also question whether or not these same principles can be extended to encompass non-listed public companies and proprietary limited companies.
 
There is a saying that "ethics and corporate social responsibility follow the law and do not precede the law". If there is an enhanced role for the ASX Corporate Governance Principles how will the law accommodate this? 
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