explain what are non-current powers AND the effect of s109 under the Australian Constitution.

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Expert Solution

An asset is actually a resource owned by an individual or a company that generates cash flows over long term. Assets have economic value and can be exchangedor sold. There are two types of assets and they are current assets and non current assets.

Non current assest are long term assets. They are actually fixed assets such as land and building, plant and equipment, furnitures and fixtures and the long term investments such as stocks, bonds and fixed deposits.

Section 109 under the australian constitution states that when a law existing in a state is not consistent with a commonwealth law, then the latter will prevail and also the former will be great level of inconsistency and it will be invalid.

Section 109 deals with the situation in which a law of both the state and commonwealth were incompatible to each other. If both the state amd commonwealth suggested any statements, High court can over throw or struck down a portion of the statement which conflicts and it will consider and implement only the common portion of the statements provided by both state and commonwealth.

Thanks!..

Rahul Sunny answered 1 year ago

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