The National Pension System ( Nps ) Essay - 1284 Words

The poverty rate amongst the elders in Korea’s especially aging population is very high, it has been a very high contributor to income inequality over the past few decades . As of OECD reports in 2011 have indicated 49 percent of the population above the age of 65 lived in relative poverty. The figure in Korea is extremely high compared to the OECD average which is 13 percent. The BOAP was introduced relatively late in 2008 which covers roughly about 70 percent of the population with the benefit of 97 thousand KRW which is 16 percent of the minimum cost of living in 2014. Although there is a relative generosity in covering a large number of population for the welfare program, the BOAP has not been able to prevent a significant rise of elderly poverty rate and the GINI coefficient since 2007 . In addition to the introduction of BOAP, there was an introduction to the National Pension System (NPS). In 2013, only 29% of the age group 65 and above have benefited from the pension system. The pension coverage was also very small with only 310 thousand KRW which is about $298 per month. Moreover, there is a wide gender gap in its recipients, with 40 percent of men receiving it compared to only 15 percent of women. The relatively low participants of the NPS scheme reflects its recent introduction in 1989 . In order to address the issues of dualism in the labor market, the government tried limiting the usage of non-regular workers but also at the same time endeavored toShow MoreRelatedThe Contemporary Role Of The Nurse Practitioner1628 Words   |  7 Pagescontemporary role of the nurse practitioner in the care of U.S. veterans within the Veterans Health Administration (VHA) system. The VHA is is one of the largest employers of advanced practice providers (APPs) in the United States. Currently some role confusion exists between nurse practitioners (NPs), physician assistants (PAs) and physicians within the system. In addition to role confusion, NPs are practicing at various levels across the country demonstrating a lack of standardization of care within theRead Moreeffects of centralized vs. decentralized bargaining structures on wages, inflation, strikes, the bargaining process, and the negotiation process3314 Words   |  14 Pagesemployers in wage setting and other aspects of indus trial relations. Although collective bargaining has the general objective of supplementing or supplanting, the free market, it has not followed a uniform pattern of development in different national or industrial situations. Instead, a variety of institutional arrangements have evolved in implementing bargaining relationships between employers and employees organizations.1 These differences at the structural level of bargaining brought contrastingRead MoreImpact of Financial Crisis on Polish Economy1666 Words   |  7 Pagestime author mentions the availability of reserves for firms and expects the investment rates to improve. Another economic concern raised was high unemployment rate and the author suggested the government to introduce reforms in pension and health care system. The national ledgers also mark a red line under the current account; this deficit has grown from 3.2% in 2008 of GDP from 1.8% of GDP in 2009. The author analyzes that these levels of deficit are moderate but points at poor quality data ofRead MoreSearch3521 Words   |  15 Pagesemployee and employer contributions. Employees contribute up to 12% of basic salary with an option of paying an additional 12% contribution. Employers also pay 12% of basic salary, out of which 8.33% is used to fund the pension portion of the provident fund, called the Employee Pension Scheme. The remaining 3.67% is deposited into the employee’s Provident Fund account. Interest is credited at a rate that is announced by EPFO each year in consultation with the government. Employers pay an additionalRead MorePublic Benefits And Goods : The Peak District National Park2409 Words   |  10 Pages 1. Managing the land for the full range of public benefits and goods: The Peak District National Park provides a wide range of public benefits (ecosystem services) some of which are not widely recognised. ï‚ § The natural environment is vital for our current and future wellbeing and prosperity. The Office for National Statistics has estimated the value of the UK’s ‘natural capital’ to be  £1.6 trillion. ï‚ § The Peak District provides a range of public benefits such as clean air and water, flood preventionRead MoreThe Nurses Should Be A Strict Nurse Patient Ratio2025 Words   |  9 Pagestheir own. With the help of non-violence protesting, drastic improvements are being made within the healthcare system to this day as a result. At the majority of hospitals in the United States, the nurse-patient ratio is well off balance and nurses are simply overworked and not paid enough for all they do. Within the past decade or so, nurses have not been happy with the healthcare system we have in place today. As a result, many protests and strikes have taken place. At the majority of hospitalsRead MoreThe New Health Care System3245 Words   |  13 PagesA. The Impetus for Health Reform The American current health care system is in the middle of big changes. With the emerging of new expensive and highly designed technologies, old and new professionals especially ones in managerial positions will need to understand the impetus for this change. Also, Patient Protection and Affordable Care Act (PPACA) is Emerging to the current health care system. ACA was approved with the goals of increasing the affordability and quality of health care insurance. ItRead MoreSingle vs Multiple Financial Regulators12736 Words   |  51 PagesSINGLE Vs. MULTIPLE FINANCIAL REGULATORS An analysis of the financial regulatory systems followed around the world By: Sudharsan S Sandeep Kumar Natharali Razvi Vijay PJ Natarajan P Neeraj Kannoth (118) (110) (32) (59) (31) (106) INTRODUCTION Financial systems and financial regulators are entities setup by the government of a country to ensure the availability and flow of financial resources in a fair and lawful manner without exploitation or monopolization of the resource by individualsRead MoreSri Lankas Naval Force Essay3417 Words   |  14 Pagesthe focus areas of Sri Lanka Navy and developments required for it’s future. CHALENGES FOR CURRENT PROGRESS Specific Area of Focus 5. The naval profession has become very complex in the present day, with the development of new weapon systems, which in turns give new capabilities. Sri Lankan Navy required focus on various improvements. With the development of any country it defence force also being developed. World will demand many responsibilities from Sri Lanka Navy in Indian Ocean RegionRead MoreExplain How Own Role Fits Within the Delivery of the Service Provider5534 Words   |  23 Pagesyoure on long-term sick leave, for example, this means that you should still usually be able to receive your payslip.Tax code and National Insurance number: Your tax code is given to you by the Inland Revenue - it tells your employers how much tax to deduct from your pay. If you have the wrong tax code you could end up paying too much or too little tax. Your National Insurance (NI) number is also usually shown on your payslip. You have to have a NI number to work in the UK, and it stays the same

Why Do People Talk About Politics On The Internet

Why Do People Talk About Politics on the Internet: Craigslist’s Digital Forum’s My ethnography is focused on the digital community present in the Craigslist politics world forum, where people can create and comment on threads of topics and questions that interested them and other members. My main interest of this ethnography is why members and visitors of the Craigslist politics world forum specifically use this digital community to discuss the upcoming US presidential election when there are many different outlets for this discussion. By actively checking the updating forum and older threads, I hoped to get a better understanding for why the contributors discuss this topic in great lengths. My research questions are as follows, is there anything in peoples responses that indicates why this is their chosen community to discuss the election? What is it about this digital community that attracts such a large and active group of contributors? Do ideas and threads posted b y members seem respectful and open to meaningful discussion of the election? Does the forum appear to broadly cover all political sides, questions, and concerns? Furthermore, does the forum seem to favor a particular sided of conversation about the election? At first, I was unsure when choosing a digital community to research. After discovering the forums that Craigslist hosts online my interest was peaked. I was unaware of the many diverse forums Craigslist had and it particularlyShow MoreRelatedEssay about Media Influences on State and Local Government1219 Words   |  5 PagesAround 50 million people watch CBS, ABC, or NBC every single night in order to obtain information from the day. Since the amount of people watching a news channel every night is so great, the media has had a great effect on the lives of everyone living in the United States. In our state and local government regions, each and every news channel or newspaper is going to take a certain view and stand-point o n what the people say, think, and believe. Media effects are classified as direct or indirectRead MoreKnowledge Gap1307 Words   |  6 Pagesthis research is to identify kinds of knowledge gap that the society faced and the reasons why did knowledge gap occur. The Forms of Knowledge Gap Base on the research that has been made by researchers from the past, the knowledge gap that base on media exposure could be differentiating into few different forms which include politics, and advertising. There are knowledge gap in the form of politics between generations based on the mass media. The public has getting become more dependentRead MoreSummary Of â€Å"How Trolls Are Ruining The Internet†. 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But, there won’t be any meaning for theRead MoreThe New Greatest Generation By Joel Steins985 Words   |  4 Pagesstatement has something to do with millennials being lazy because we would rather take the easy way out such as being the assistant than working towards being some bigger and better. Another example in his article would have to be how he mentions technology. I agree technology plays a major role of the millennials being lazy because it’s addicting, and it makes them feel as if they don’t have to do anything because everything is on the internet. Stein also talks about parents and how they’re moreRead MoreThe Debate About Information Freedom996 Words   |  4 PagesPros and cons of WikiLeak The debate about information freedom has become fiercely contested with the advent of WikiLeaks. Wikileaks is a non-profit organization which collects original resources and publishes on the website. It provides a secure platform for whistleblowers. 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Sigp Grant Proposal †Joel Alvarez-Rinconeño. 1.Taking

SIGP Grant Proposal — Joel Alvarez-Rinconeà ±o 1. Taking English classes first quarter and throughout high school has unearthed my deep-rooted passion and love for writing and reading. I am most excited for the opportunity to spread my knowledge and expertise to these young children about a language with such a powerful and complex history. Previously, I studied abroad in Santiago, Chile for two months. Participating in this abroad program reinforced and improved my adaptability in differing cultural and social environments. Given this experience, I have been inspired to continue traveling and exploring the world during college. Currently, I am on the track to declaring a major in sociology, a minor in English, and obtaining an integrated†¦show more content†¦I will work five days a week (possibly six) from 7:30 am to 4:00 pm teaching young children in a classroom. I will have to create basic teaching and adapt my curriculum based on my prospective students’ level of understanding. My students will have little to no exposure to English, therefore I must use my creativity and problem-solving skills to teach my students with limited teaching materials. I am confident that my experience will improve my ability to be resilient and adaptable in new cultural environments. Furthermore, I will become more articulate when communicating with others, even when there may be language barriers. I want to effectively spread my knowledge, while also being open and receptive to the knowledge that my students may share with me. Also, my current suburban/city lifestyle at Northwestern will be completely juxtaposed by the rural Thailand environment where I will live. This internship opportunity will challenge the current level of comfort that I experience on a day-to-day basis while living here in the United States. I will develop a newfound appreciation for the goods and services I tend to take for granted since I will experience limited access to water and electricity. Furthermore, I am convinced that I will look back at this pivotal time in my life and remember how powerful my international internship experience was in helping me appreciate the b eauty that lies in the diversity of world cultures. Realistically, the only way to

Corporate Law The Corporations Act 2001

Question: Advise what are the various legal issues and causes of action that are available to the shareholders arising from the directors conduct in the above circumstances. Students should answer this question with reference to the relevant provisions of the Corporations Act 2001 and the relevant case law. Answer: Introduction The business environment comprises of the different individuals, entities and concerns and as such different rules are enacted by the legal authorities so as to augment trade and commerce. The Corporations Act 2001 is one such law enacted for dealing with companies and entities operating within Australia at federal and interstate levels. The Corporation Act is one of the prime laws governing the formation of the companies and their subsequent operation. This law also depicts the duties of the directors, officers, takeover of the companies as well as method of raising finance.[1] The paper will discuss the provisions of this Act and its applicability with the stated case study. The legal recourses available to the shareholders in respect to the directors conduct will also be discussed in the paper. Discussion Australian corporate law has its roots from the company law of UK. The source of corporation law is from the Corporations Act, 2001 that acts as a single national statute implemented by Australian Securities and Investments Commission (ASIC). The company rules as found in Australia are quite strong and can be found in other Commonwealth countries. The directors have no personal liability as a general rule since the company and the Directors are separate entities. In spite of this, the Corporations Act has stated certain conditions under which the Directors can be held liable.[2] From the case study it can be understood that there is no clear chain of command and the majority shareholders and the directors are all acting in a manner that serves their purpose without showing concern to the other shareholders. The shareholders are the actual owners of the company and the Corporations Act spells out remedies for the distressed parties in case there is a breach of interest for the alleged parties. The Corporation Act contains scope where claim can be brought against the directors and they can be relieved of their duty if the company has suffered losses as a consequence of the directors actions or the directors have amassed personal profit or certain other conditions where the shareholders believe that there have been breaches or unlawful practices.[3] This provision has been listed under the clause of derivative action contained in Pt 2F.1A within the Corporations Act. Derivative action is described as an action brought on behalf of the company and in name of the company by a person other than the company itself. This usually means the shareholder. Derivative Claim gives more power to the shareholders and empowers them with the right to protect their rights. These rights are crucial and form a layer of protection for shareholders against poor management. Being owner of the shares provides certain rights for the shareholders and the Corporation Act contains certain m echanism for redressing the grievances.[4] A derivative action is often described as a twofold action that is brought on by a shareholder so as to redress any harm. Derivative action is also described as an action used for compelling the corporation to sue it. Crux of derivative action can be described to serve two purposes: First is against the directors and the second is established upon the right of belonging to an entity. Moreover the scope of derivative action is on allowing the shareholders to evaluate and rectify the blight on the corporation as a result of wrong management. In cases of wilful misconduct by the management it is unlikely that the management will rectify the mistake by itself and thus the derivative act seeks to address the anomalies.[5] From the case study given, it may be understood that the parties related to the dispute are James Lee and Jenny Lee (holding 60% of the shares) and the directors of MTL. It may be observed that the husband and the wife along with the directors are acting on their own wit hout taking into account the interests of the other parties. There is hardly any cohesion among the different stakeholders and the directors are inclined to act on their own without consulting the other shareholders. The aim of the Corporations Act is on making sure that the various parties within a company are fairly represented and their interests are honoured thorough sound implementation of fair policies. Volume 1 under Chapter 2F deals with the rights of the members and remedies in case of a breach.[6] The derivative action is listed under this Chapter that seeks to address any conflict in interest among the members and the directors with specific remedies in the form of derivative action. Sections 236 to 242 of the Corporations Act 2001 spell out the procedures for invoking derivative action. As such the members of the MTL Ltd including Martin Lu can bring a statutory derivative action. It has been observed that most of the derivative actions have been brought on by existing s hareholders. The Corporations Act comprises of 5 volumes that have chapters from 1 to 10. These chapters deal with different intricacies that are involved in the function of a company along with the rights and responsibilities of the different members, formation and functioning of companies, merger, acquisitions and fund raising.[7] Directors regulate organisations on behalf of the shareholders. The directors have a prime role in the smooth functioning of a company and it may be opined that they have a greater onus since directors are elected by the shareholders. Some of the most important responsibilities of the directors include promoting the long-term success of the company, to take steps in conjunction with the constitution and power of the company, to exercise independent decision making and to exercise reasonable care and skill. Thus it may be observed that the prime role of the directors of a company is on undertaking decisions that promotes the best interests of the company rather than th e interests of the majority of the shareholders.[8] From the case study it may be opined that the directors of MTL have acted in a manner that benefits their own interests and ignores the responsibility of the majority of the shareholders. Among other rights bestowed upon the shareholders of a company oversight is one of the prime responsibilities and rights of a shareholder. This means that the shareholders have a right to oversee correct management of a company. Moreover they have a duty to direct the organisational management and to account for the performance of the directors. It is also the responsibility of the shareholders to ask for clarifications and to raise questions and objections to the decisions of the management in case they feel such an act is not in the best interest of the company.[9] The four instances as has been mentioned in the case study can be evaluated so as to understand the highhandedness with which the majority shareholders and the directors are conductin g the affairs of the company. From decree of the courts in the cases involving derivative action it may be seen that the focus is on ascertaining whether a derivative action is in the best interests of the company. Moreover certain other enquiries are contemplated by the courts in matter relating to the breach of rights and responsibilities within the functioning of companies.[10] These considerations include understanding whether the claim of the applicants are speculative or not, what may be the possible ramification of such litigation on the business and performance of the company, what is the relationship that exists between the applicant and other members and directors of the company and so on. One of the prime considerations in cases involving derivative action is seeking alternative way of resolving the dispute. Overall aim of the judiciary is on making sure that the various stakeholders associated with a company receive fair treatment and the ruling benefits all and sundry associate with a company. Theref ore any action arising as a result of bringing granting leave is minutely considered. Section 237 (2) (c), as such, states that the applicant needs to be given leave in the best interests of the company.[11] In Australia the best interests of a company is linked with the best interest of the group of shareholders. At times it has been also observed that the courts appoint an independent person for investigating the matters relating to inner dispute of a company and report independently to the court. Business laws have been devised keeping in mind the growth of trade and commerce and therefore they seek to instil rules that are free from personal bias and prejudice. Moreover it is also ensured that no party is following a personal agenda that harms the best interests of all the shareholders.[12] Thus it may be stated that the case of MTL Ltd needs intervention from the court for ensuring that the different parties involved in the functioning of the company get their share of the due. The company laws strictly maintain that the directors need to avoid conflict of interest stringently. Under the Corporations Act 2001, ss 191-193 the directors need to provide full disclosure in case they have an interest in a transaction. Under schedule 3 of this act criminal penalty are enlisted in case there is any non-adherence. The act of the directors to sell off the television business of MTL is in stark contrast to this principle of duties of the directors. Conclusion The paper has shed light on one of the important legislations those dfine operations of the company in Australia- the Corporation Act, 2001. This act has been evaluated with special reference to MTL Ltd. Moreover the rights and responsibilities of the directors have been analysed and it was found that the directors in MTL are acting in a manner that serve their own interest without taking into account the interests if the shareholders. Corrective provisions have also been discussed i.e. the derivative action and its applicability to MTL Ld have been analysed. From the discussion it has been concluded that the directors have a prime duty of putting the interest of the company ahead of their own interest.[14] In context to MTL Ltd this prime duty is said to be missing. The paper ends with recourses that are available to the shareholders with particular emphasis on shareholder rights and duties of the directors. Bibliography Austin R.P. Ramsay, I., Ford's Principles of Corporations Law, Butterworths, Australia, 15th edition, 2012. Baxt, R., and Fletcher, K.L., Fridman, S., Corporations and Associations Cases and Materials on, Butterworths, Australia, 10th edition, 2008. Cassidy, J. Corporations Law Text and Essential Cases. Federation Press, 4th edition Sydney 2013 Ciro T, Symes C, Corporations Law in Principle LBC Thomson Reuters, Sydney, 9th edition 2013 Fisher S, Anderson C, Dickfos, Corporations Law - Butterworths Tutorial Series, 3rd Edition Butterworths, Sydney 2009 Hanrahan, P., Ramsay I., Stapledon G., Commercial Applications of Company Law. CCH 14th edition 2013 Harris, J. Butterworths Questions and Answers Corporations Law:, LexisNexis, 4th Edition Sydney 2013. Harris, J. Corporations Law, LexisNexis Study Guide 2014 Harris, J. Hargovan, A. Adams, M. Australian Corporate Law LexisNexis Butterworths 5th edition, 2015. Latimer, P, Australian Business Law CC, 2016 Edition. Li, G, Riley, S. Applied Corporate Law: A Bilingual Approach LexisNexis 1st Edition 2009. Parker, Clarke, Veljanovski, Posthouwer, Corporate Law, Palgrave 1st edition 2012 Redmond, P., Companies and Securities Law - Commentary and Materials, Law Book Co., Sydney, 5th, 2009. Vermeesch,R B, Lindgren, K E, Business Law of Australia Butterworths, 12th Edition, 2011. [1] Harris, J. Hargovan, A. Adams, M. Australian Corporate Law LexisNexis Butterworths 5th edition, 2015. [2] Austin R.P. Ramsay, I., Ford's Principles of Corporations Law, Butterworths, Australia, 15th edition, 2012. [3] Baxt, R., and Fletcher, K.L., Fridman, S., Corporations and Associations Cases and Materials on, Butterworths, Australia, 10th edition, 2008 [4] Parker, Clarke, Veljanovski, Posthouwer, Corporate Law, Palgrave 1st edition 2012 [5] Hanrahan, P., Ramsay I., Stapledon G., Commercial Applications of Company Law. CCH 14th edition 2013 [6] Redmond, P., Companies and Securities Law - Commentary and Materials, Law Book Co., Sydney, 5th, 2009 [7] Ciro T, Symes C, Corporations Law in Principle LBC Thomson Reuters, Sydney, 9th edition 2013 [8] Li, G, Riley, S. Applied Corporate Law: A Bilingual Approach LexisNexis 1st Edition 2009. [9] Cassidy, J. Corporations Law Text and Essential Cases. Federation Press, 4th edition Sydney 2013 [10] Harris, J. Corporations Law, LexisNexis Study Guide 2014 [11] Harris, J. Butterworths Questions and Answers Corporations Law:, LexisNexis, 4th Edition Sydney 2013 [12] Fisher S, Anderson C, Dickfos, Corporations Law - Butterworths Tutorial Series, 3rd Edition Butterworths, Sydney 2009 [13] Latimer, P, Australian Business Law CC, 2016 Edition. [14] Vermeesch,R B, Lindgren, K E, Business Law of Australia Butterworths, 12th Edition, 2011.