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The Corporations Act 2001 is an Act of the Parliament of Australia, which sets out the laws dealing with business entities in Australia. The company is the Act's primary focus, but other entities, such as partnerships and managed investment schemes, are also regulated.
The Commonwealth then sought to take sole responsibility for corporations law in Australia. In 2001, the current arrangement was created, after the states referred their power in respect of corporations to the Commonwealth. Australian Securities Commission Act 1989, [6] and Australian Securities & Investments Commission
The current Corporations Act 2001 (Cth) is supported by the combination of the corporations power with this referral of power. The referral also allowed the passage of the Australian Securities & Investments Commission Act 2001 (Cth).
The Insurance Act 1973 (Cth) sets minimum capital and solvency requirements for companies wanting to enter or operate in the insurance market. [1]Chapter 7 of the Corporations Act 2001 (Cth) regulates the way in which insurers and insurance agents and brokers carry on business and how they deal with the people they do business with and intend to do business with.
The main body of substantive law about securities is found in the Corporations Act 2001 (Cth), as well as the regulations made under that Act. Whilst much of the law is derived from earlier regulation (especially the bust in Australian mineral stocks of the late 1960s), the sections relating to securities regulation have been subject to recent amendment.
In Australia, a proprietary company is defined under section 45A(1) of the Corporations Act 2001 (Cth). [1] The Act puts certain restrictions on proprietary companies such as not permitting them to have more than 50 members (shareholders). Another important restriction relates to fundraising.
Corporations (Fees) Act 2001 2001 (No. 52) Yes (as amended) Corporations (Futures Organisations Levies) Act 2001 2001 (No. 53) No Corporations (National Guarantee Fund Levies) Act 2001 2001 (No. 54) Yes (as amended) Corporations (Repeals, Consequentials and Transitionals) Act 2001 2001 (No. 55) Yes (as amended)
A no-liability company in Australia (suffix NL) is a company which, under the Corporations Act 2001 (Cth), must have as its stated objects that it is solely a mining company and that it is not entitled to calls on the unpaid issue price of shares. It is a company which is restricted to mining activities and is the only sort of corporation which ...