The Corporations Act 2001 (Cth) plays a crucial role in regulating business activities and ensuring transparency in organisational dealings. The act provides guidelines for directors to maintain confidentiality and prevent misuse of company information. In case of any breach, the ASIC can impose penalties and disqualify individuals from participating in company activities. The act also ensures that directors do not use company property for personal benefits. A case study of ASIC vs. Vizard illustrates the application of the Corporations Act 2001 to protect confidential information and prevent malpractices.