ACCA F4公司法与商法考试 Corporate and Business Law 历年真题及标准答案-2010junans.pdfVIP

Answers Fundamentals Level – Skills Module, Paper F4 (HKG) Corporate and Business Law (Hong Kong) June 2010 Answers 1 The question invites the candidates to demonstrate their knowledge in the sources of law of the Hong Kong Special Administrative Region (‘the HKSAR’). After the year of 1997, the sources of law of the HKSAR are governed by the Basic Law. Articles 8 and 18 of the Basic Law provide, in effect that the common law, rules of equity, ordinances, subordinate legislation, customary law and the Basic Law itself are the sources of law of the HKSAR. Basic Law Article 8 of the Basic Law stipulates that all other sources of law of the HKSAR have to be subject to the Basic Law. Hence, the Basic Law can be said to be the highest form of law of the HKSAR in that should the law of other sources be in conflict with the Basic Law, the Basic Law is to prevail. As such the Basic Law can be regarded as a written constitution of the HKSAR. The Basic Law provides for many rules and institutions which are fundamental to the Government of the HKSAR. It is from the Basic Law that various kinds of freedoms and rights of the people of the HKSAR are secured. Common law and equity In this context, common law refers to the principles of law, the application of which stress on consistency and hence tends to be rigid. As opposed to common law, the rules of equity are those principles of law the application of which emphases on justice and fairness. As such, it is much more flexible than common law in its application. Since both the common law and equity are founded on the decisions of the courts, they are also referred to as case law. Central to this case law system is the application of the doctrine of precedent, which requires that similar cases should be treated al