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The Corporations Act of 2001

Corporations Act

The Corporations Act of 2001 is a piece of legislation that arose in 2001 in Australia in order to help regulate the nature of corporations in Australia. The Corporations Act was also designed to regulate such elements as corporate welfare and corporate jobs and their function within the corporate world of Australia.

The Corporations Act is notable because it is the single largest corporations statute in place in the world today, which means that it is perhaps the most comprehensive version of a Corporations Act that any nation would likely have. The Corporations Act defines a company, the important components of a company and how those components should function.

It also defines how the financial markets should function and are controlled. The Corporations Act thus defines the nature of many corporate jobs, although it likely leaves open the exact particulars of any instance of corporate jobs to the constitution of corporation within those corporations.

The Corporations Act is designed to regulate corporate welfare in the sense of corporate well-being, but corporate welfare can also be used as a reference to the concept of a government granting some form of money to a corporation in order to assist that corporation's survival. For example, the bailouts that took place within the past couple of years in America would fall under the term of corporate welfare.

The Corporations Act does not deal with such broad acts of corporate welfare as those described above, though it does deal with certain elements of corporate welfare. This is in part because the inception of the Corporations Act took place before these broad, important acts of corporate welfare performed by America.

NEXT: The Federal Trade Commission Act of 1914

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