Corporate Governance Law - Assignment

Added on - 28 Jan 2020

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Corporate Law
TABLE OF CONTENTSINTRODUCTION.........................................................................................................................................................3Company Constitution............................................................................................................................................3Disclosure Provisions.............................................................................................................................................4Balancing Interests of the investors........................................................................................................................5Breach of disclosure provisions..............................................................................................................................6CONCLUSION...............................................................................................................................................................8REFERENCES................................................................................................................................................................9
INTRODUCTIONCorporation Act 2001 is a regulation which binds business entities into legal obligationsand duties. It is important for the organisations to abide by the each of the provisions of the actand also respect the rights of the investors1. This act is primarily regulated in Australia to protectthe rights of the investors in the corporate world. In every business, satisfaction of customer isessential and to provide that satisfaction there must be some guidelines and rules which much beintroduced by the government so that everyone can apply those rules. One of the extremelyimportant subject which s being focused upon in today's world is that of Corporate Governance.It has been characterized as the medium through which the performance of any corporate can beenhanced2. A highly essential and instrumental role is played by the directors as well as otherauthorized persons of any company. One of the many duties and responsibilities imposed uponthe director is to make effective disclosures, as stipulated under the act or by the regulatoryauthorities. The rationale behind imposition of this obligation to ensure that the company isoperating in a fair manner and the interests of the investors are not getting hampered.Company ConstitutionSince 1998, every country is in need of constitution so as as Australia with a update oncompanies. Taking such concern about organization, a proper set of rules and regulation is beingestablished known a company’s Constitution which will comprise of Memorandum ofAssociation and Article of Association3. These rules are generated in order to operate businessentities.As per the business environment, there are so many business activities carried out in theorganization and in order to operate each of the firms in a smooth manner adherence to theprovisions of the act is a necessity. The corporation act 2001 covers some laws which are relatedto other business entities such as partnerships and some of the managed investmentschemes andother laws. It is mandatory for every business to follow rules which the government hasimplemented to ensure maintenance of fairness and justice in the market. There are manyguidelines which help in setting new organizations as this is also mentioned in the corporation1Wigmore, J.H,(2012)Principles of judicial proof. Rarebooksclub Com.2Bainbridge, S,(2015)Corporate Law. West Academic.3Horrigan, B,(2010)Corporate social responsibility in the 21st century: Debates, models and practices acrossgovernment, law and business. Edward Elgar Publishing.
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