Corporations Act 2001 (Australia)

The Corporations Act 2001 is Australian law that governs the creation, operation, and regulation of companies and other business formations. It sets out rules for establishing companies, directors' duties, shareholder rights, financial reporting, and corporate governance. The Act aims to promote fair trading, accountability, and transparency in the corporate sector, ensuring businesses operate legally and ethically. It also provides mechanisms for safeguarding investors and creditors, maintaining market confidence, and addressing misconduct. In essence, it provides the legal framework that ensures Australian companies function effectively and fairly within the economy.