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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.
Australian corporations law has historically borrowed heavily from UK company law. Its legal structure now consists of a single, national statute, the Corporations Act 2001. [1] The statute is administered by a single national regulatory authority, the Australian Securities & Investments Commission (ASIC). [2]
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 ...
The Corporations Act 2001 sets up a uniform approach to the regulation of financial services through a uniform licensing and disclosure regime. The general regulatory position is that a person (whether an individual or corporate entity) carrying on a financial services business in Australia must, unless exempted, hold an Australian financial services licence (AFSL) issued by ASIC.
new provisions pertaining to auditor independence, and amendments affecting the audit function and audit oversight. licensing obligations for financial services licensees to manage conflicts of interest and address analysts independence. amendments to the fundraising provisions in Chapters 6D and 7 of the Corporations Act.
The Corporations Act permits a great deal flexibility in relation to the deed of company arrangement. The deed of company arrangement may involve a simple moratorium for a fixed period, or a composition of creditors' claims whereby creditors agree to accept a cram down , or a plan to pay creditors in deferred instalments, or some combination of ...
In Australia, Part 2E of the Corporations Act 2001 requires publicly traded companies to file certain documents relating to their annual general meeting with the Australian Securities and Investments Commission (ASIC). There is a similar requirement for large proprietary companies, which are required to lodge Form 388H to the ASIC containing ...
Act in the best interest of members of the investment scheme Treat all investment scheme members equally A Responsible Entity can either be owned by the same group as the fund manager, i.e. an "internal" responsible entity, or alternatively be run separate to the fund manager, i.e. an "external" responsible entity.