GRADE 10 BUSINESS STUDIES .pg
GRADE 10
BUSINESS STUDIES
UNIT 4
LAWS AND BUSINESS REGULATIONS
IN PAPUA NEW GUINEA
COURSE BOOK 4
Name:______________________________________________
Provincial Study Centre:______________________________
Address:____________________________________________
FLEXIBLE, OPEN AND DISTANCE EDUCATION
PRIVATE MAIL BAG, P.O.WAIGANI, NCD
DEPARTMENT OF EDUCATION
PAPUA NEW GUINEA
Writer : Ursula Miria
Department Editors : Lucy Joseph
Doris Payok
Subject Team Editors
Jeff. G. Wama
Joyce Pogla
Keturah Soso
Lily Mali
Subject Content Editor : Silas Umaropi
Compiled, Formatted and finalized by
Ursula Miria
GR 10 BS U4
1
TITLE PAGE
GRADE 10
BUSINESS STUDIES
UNIT 4
LAWS AND BUSINESS REGULATIONS IN
PAPUA NEW GUINEA
In
TOPIC 1: BUSINESS LAWS AND REGULATIONS
TOPIC 2: BASIC LAWS
TOPIC 3: LAWS AND EMPLOYMENT
TOPIC 4: LEGAL AGREEMENTS IN BUSINESS
GR 10 BS U4
2
ISBN & COPYRIGHT
Acknowledgements
We acknowledge the contributions of all the Secondary Teachers, the FODE Subject
Team Members, the Subject Review Committee Members and Academic Approval
Committee Members who in one way or another helped to develop Course Book 4.
Special thanks to the staff of Business Studies Department of FODE namely, Ursula
Miria, Lucy Joseph and Doris Payok, who played an active role in coordinating writing
workshops, outsourcing lesson writing and the editing processes.
We also acknowledge the professional guidance provided by Curriculum and
Development Assessment Division throughout the processes of writing and, the
services given by the members of the Secondary Section and Academic Committees.
The Course Book was developed with the support and funding of the GO- PNG
FODE World Bank Project.
DEMAS TONGOGO
PRINCIPAL
Published in 2017 by the Flexible, Open and Distance Education
? Copyright 2017, Department of Education, Papua New Guinea
All rights reserved. No part of this publication may be reproduced, stored in a
retrieval system, or transmitted in any form or by any means electronic, mechanical,
photocopying, recording or otherwise without prior permission of the publisher.
Printed by the Flexible, Open and Distance Education
ISBN 978-9980-89-359-8
National Library and Archives services of Papua New Guinea
GR 10 BS U4
3
CONTENT
TABLE OF CONTENTS
Unit 4 Introduction .........................................................................................................
5
Study Guide ...................................................................................................................
6
Topic 1: Business Laws and Regulations ......................................................................
9
Topic 1: Introduction ......................................................................................................
10
Lesson 1 Introduction of Laws to Businesses............................................................................
11
Lesson 2 The Business Law and the Environment ...................................................................
19
Lesson 3 Laws to Protect Consumers .......................................................................................
25
Answers to Practice Exercises 1- 3 ..............................................................................
33
Topic 2: Basic Laws .......................................................................................................
37
Topic 2: Introduction ......................................................................................................
38
Lesson 4
Licensing Regulations...............................................................................................
39
Lesson 5
Partnerships and Incorporated Land Groups ............................................................
49
Lesson 6
Restrictions on Businesses .......................................................................................
55
Lesson 7
Taxation and Business .............................................................................................
61
Lesson 8
Regulations for Insurance Businesses......................................................................
69
Answers to Practice Exercises 4 -8 ...............................................................................
77
Topic 3: Laws and Employment.....................................................................................
83
Topic 3: Introduction ......................................................................................................
84
Lesson 9
Introduction to Laws and Employment ......................................................................
85
Lesson 10 Employment Conditions ............................................................................................
91
Lesson 11 Minimum Wages .......................................................................................................
99
Lesson 12 Labour and Industrial Relations Office ......................................................................
105
Answers to Practice Exercises 9 -12 .............................................................................
111
Topic 4: Legal Agreements in Business .......................................................................
115
Topic 4: Introduction ......................................................................................................
116
Lesson 13
Purchase Contracts and Franchise Agreements ....................................................
117
Lesson 14
Lease and Hire Purchase Agreements ...................................................................
125
Lesson 15
Legal Requirements of Companies ........................................................................
131
Lesson 16
The Investment Promotion Authority ......................................................................
139
Answers to Practice Exercises 13-16 ............................................................................
143
Answers to Lesson Activities ¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡.
147
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