Why is the corporations act important

Howell and Christi A. Harrison and T. Dobry and Eric J. Miller and Tinny T. Another Case Demonstrates the Barnes and Whitney Bly Edwards, Ph. Cohen and David R. Loring and Sara A. Cooper and Robert A. Friel and Glenn A. Gottshall and Janet R. Srinivasa and Peighton M. Viger and Brooke M. Nielsen and Seth D. Counts and Molly E. Schanen, Jr.

Article By. Alan S. Susan Parker. Thursday, August 19, Related Legal Headlines. By Kirstie Richards. By Gregory Pieris. By Alan S. By Matthew Cridland.

About this Author. Special Counsel, Knowledge and Practice Support. Section is designed to protect the privacy of shareholders by limiting the use to which information about them may be put.

By way of example, which is given in a note to the section, the use of information on the register for the direct marketing of goods or services, would fall within the prohibition. It appears reasonably clear from its terms that the purpose of s is to protect the privacy of shareholders by limiting permitted uses of information obtained from the register about them. The section would not permit the use of information on the register for direct marketing to shareholders of goods and services unrelated to their status as shareholders and it may be the case that even company approval of the use of information on the register will be constrained by the National Privacy Principles to which reference has already been made.

The ALRC also noted that the member registers of mutuals, such as credit unions, receive extra protection under the Corporations Regulations. It argued:. The balance between maintaining the privacy of this information and meeting the important public policy objectives might be better achieved by more narrowly specifying in the Corporations Act the purposes for which such information may be used, particularly in regard to shareholder registers.

It noted that the Corporations Amendment Regulation No 9 would provide for such a mechanism. Committee of Inquiry into the Australian Financial System, Parliament of Australia Australian financial system: final report of the Committee of Inquiry Campbell Committee, September Inquiry and report into the structure, operation, regulation and control of the Australian Financial Systems Inquiry.

Corporations Act Cth Corporations Law Uniform legislation scheme that came into operation in Corporate Law Reform Act Cth Amendments to benefits to directors of public companies and related parties, voluntary administration introduced, insolvent trading controlled further and voidable transactions in windings up. Corporate Law Reform Act Cth Amendments of indemnification of directors and enhanced disclosure.

First Corporate Law Simplification Act Cth Changes include simplified drafting, share buy-backs, proprietary companies, simplified company registers. Company Law Review Act Cth Changes include simplified drafting, companies limited both by shares and guarantee no longer registrable, par value shares abolished and reduction of capital liberalised.

Managed Investments Act Cth Collective investment schemes. Corporate Law Economic Reform Program Act Cth Changes include statutory derivative action, relaxed regulation of acquisitions of shares for the purpose of takeover of control, enhanced role of Corporations and Securities Panel as a substitute to courts for settlement of takeover disputes and restated functions of the AASB.

Corporations Law Amendment Employee Entitlements Act Cth Protects entitlements of employees from agreements and transactions entered into with the purpose of defeating recovery of such entitlements.

Corporations Legislation Amendment Act Cth Changed system of annual reporting to ASIC, required directors to pass an annual resolution about their company's solvency and repealed provision requiring special action by public companies in respect of directors who attain 72 years of age.

Corporations Amendment Repayment of Directors' Bonuses Act Cth Introduced provisions to assist recovery of assets to companies in liquidation where payments or transfers to directors were unreasonable. Corporations Amendment Insolvency Act Cth Enhanced protection for employee entitlements during voluntary administration, introduced pooling process in the winding up of related companies and improved regulation of insolvency practitioners.

Corporations Legislation Amendment Simpler Regulatory System Act Cth Amended the regulation of financial services, company reporting obligations, and capital raising by companies. Corporations Amendment Improving Accountability on Termination Payments Act Cth Strengthened the regulatory framework for termination payments paid to directors and executives.

Corporations Legislation Amendment Financial Services Modernisation Act Cth Included margin loans as a financial product for the purposes of Ch 7 of the Corporations Act, transferred the regulation of trustee companies from the states and territories to the Commonwealth, and made ASIC the regulator of trustee companies, and amended the regulation of debentures. Corporations Amendment No 1 Act Cth Amended access to company registers including the register of members and increased the penalties for criminal breaches of the insider trading and market misconduct provisions.

Corporations Amendment Corporate Reporting Reform Act Cth Introduced a new reporting framework for companies limited by guarantee and a new test for when a company can pay a dividend. Corporations Amendment Improving Accountability on Director and Executive Remuneration Act Cth Strengthened the non-binding vote on the remuneration report and introduced other changes to the regulation of remuneration. Joint Stock Companies Act UK Made it possible to obtain incorporation by registration Available online from Justis Limited Liability Act UK Gave incorporators the option of forming a company on the principle that the liability of the members of the company would be limited to what they agreed to contribute as capital of the company Available online from Justis Companies Act England Consolidation of English corporate law from which Australian companies legislation is descended.

Committee on Company Law Amendment, Parliament of Great Britain, Report of the Committee on Company Law Amendment Cohen Report Report on possible major amendments for the Companies Act , with a focus on the formation and affairs of corporations and investor and public interest protection. Uniform Companies Acts Each state over the period between enacted uniform legislation in an effort to remove difficulties caused by differing legislation between states. Eggleston Reports : Commission established in into corporate and securities law reform, led by Richard Eggleston.

News section: ALRC news. A light-hearted dialogue in which a discontented mother and father implore their son the Corporations Act to grow up. Father : Corporations Act Cth , could you come here please? Your mother and I would like to speak with you. However, we are concerned about you. You need to grow up. Corporations Act : What did I do? Please take a seat.