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Questions: 1.Advise Infinity what priority, if any, Infinity would have in relation to its circulating security interest in HealthPharm in the event of HealthPharms insolvency. 2.Advise HealthPharm Ltd on the validity or otherwise of the proposed resolution as a procedure to effect the division of the existing shares into two classes. 3.Advise HealthPharm Ltd what disclosure obligations it would have, if any, in relation to offering its shares for issue on the ASX and advise it on the standard of disclosure required. Answers: 1.Advice to Infinity in case of HealthPharms insolvency Issue: Priority of Infinity Venture in relation to its circulating of security interest is to be analyzed in the event of insolvency of the company Heath Pharm. Rule: According to section 420b Corporations act 2001, the court may give authority to the controller to dispose of the property in the event of the insolvency of the company even though security interest exists in the aforementioned property. Application: A receiver will be appointed by the court on behalf of the party who has some interest in the circulating security of the company in the event of winding up of the company. However it is to be stated that the company must not take the decision of winding up voluntarily (Legislation.gov.au., 2017) The company Infinity Venture must clear all the debts that are attached to the circulating security interests of the Health Pharm Ltd. in the event of its winding up. Conclusion: Thus in conclusion, it can be stated that Infinity Venture, will receive priority in claiming the circulating security interests in the event of winding up of Health Pharma. 2.Advice to Health Pharm regarding the proposal of dividing shares Issue The advice to be given to HealthPharm Ltd. on the validity of the proposal of dividing the shares into two classes is to be discussed and analyzed. Rule: According to the Australian Securities and Investment Commission Act, any company proposing to issue new shares or split the shares needs to intimate the Australian Securities Commission twenty eight days after the commencement of such issue (Legislation.gov.au., 2017) Application: It can be said that the company Health Pharm Ltd. can split the shares into two classes by following the provisions as stated by the Australia Securities commission (Bainbridge, 2015). The company will have to fill a prescribed form regarding the issue of shares, the type of shares it is issuing, the details of the due amount on the shares. Conclusion Thus to conclude, it can be said that the companys decision of diving the shares into two classes is valid and the company has every right in doing so. 3.Obligations of a company in listing its shares on the ASX Issue: Obligations of the company HealthPharm, to list its shares on the Australian Securities Exchange and standard disclosure procedure to do the same is to be followed. Rule: According to Corporations Act 2001, the listing of a companys shares on the Australian Securities Exchange needs to follow certain requirements as stated by the ASX (www.asx.com.au, 2017). The company wishing to list its shares must file a prospectus providing information about its profits and losses, assets and liabilities of the company. Application: It can be stated that the company HealhPharm, to list its shares on the ASX needs to have three hundred investors who are not affiliated, twenty percent of the shares of the company should be free floating and it should have tangible assets worth four million dollars or market capitalization of fifteen million dollars and the same needs to take a property test prior to the admissions. Conclusion Thus to conclude it can be said the Company HealthPharm has to follow the listing process that determine obligations required for listing its shares on the ASX. Reference List: www.asx.com.au. (2017).Asx.com.au. Retrieved 16 November 2017, from https://www.asx.com.au/listings/listing-with-asx/listing-requirements.htm Australian Securities and Investments Commission Act 2001. (2017). Legislation.gov.au. Retrieved 21 November 2017, from https://www.legislation.gov.au/Details/C2017C00326 Corporations Act 2001. (2017).Legislation.gov.au. Retrieved 21 November 2017, from https://www.legislation.gov.au/Details/C2017C00328 Bainbridge, S. (2015).Corporate Law. West Academic