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Australian Company Law - Assignment

   

Added on  2020-10-22

6 Pages1286 Words405 Views
Company Law

TABLE OF CONTENTSQuestion 5: Australian company law constraining or promoting corporate activity.......................1REFERENCES................................................................................................................................4

QUESTION 5: AUSTRALIAN COMPANY LAW CONSTRAINING ORPROMOTING CORPORATE ACTIVITYThe companies functioning in Australia have always been able toget a back fromcorporate law that has been functioning in the country. It is due to the reason that it has alwayspromoted improvements and adjustments in statutes and provisions as per the changing businessenvironments. The report will make comprehensive discussion regarding various laws that act asa barrierin fostering growth in company and other aspects that are directly orindirectly related toits growth. Australian company law discusses the provision that is frequently traced in the form oflegislations with respect to the organizations that are being established in the territory. If anycompany plans to function in Australia or have a branch office in the territory, belonging to someother country, in this scenario, it must be registered as a foreign company under Corporation Actof Australia (Hanrahan, Ramsay and Stapledon, 2013). It acts as a public record and registrationof company’s presence in the Australian territory. Since, allthe legislations regarding businessactivities are discussed in this law, it can be stated that, it helps in appropriate promotion of theorganization in such a manner that no misleading activity takes place in the nation. Hence, ithelps to promote ethical compliance of the business. The laws being established in relation to functioning of the organizations arequitestringent, however, it has only fostered growth of corporate activities in the territory in a well-defined manner. The authorities have also been able to achieve adequate amount of success inpracticing this law in a manner that the legislations and statutes included in it are modernised andimprovised as per the dynamic requirements of society and existing culture of conductingbusiness activity.It has distinctive feature of arrangement of governance from that usual Anglo-American model due to which it is able to share various common features with the othercountries as well. In order to ensure effective compliance of law, the mostimportant determinantsthat are required to be considered by authorities arebackground business culture, ethical valuesand application of legal institutions against the corporate law operations (Muchlinski, 2012).Theorists have been able to prove that the provisions and statutes in Corporation law have beenable tofulfil most of the elements that a contemporary theoristwould have ever seen indesirablemodern body of company law. 1

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