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Australian Corporate Law
Australian corporations law has historically borrowed heavily from UK company law. Its legal structure now consists of a single, national statute, the Corporations Act 2001. The statute is administered by a single national regulatory authority, the Australian Securities & Investments Commission (ASIC). Since provisions in the Act can frequently be traced back to some pioneer legislation in the United Kingdom, reference is frequently made to judgments of courts there. Though other forms are permitted, the main corporate forms in Australia are public and private (in Australia termed proprietary) companies, both of which predominantly have limited liability. History Upon Federation in 1901, the Constitution of Australia granted limited powers in relation to corporations to the Australian Parliament. Each State has a residual power in relation to anything not within the Commonwealth power. The main grant of powers to the Commonwealth are as follows: :The Parliament shall, subj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the mandat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certificate Of Incorporation
A certificate of incorporation is a legal document/license relating to the formation of a company or corporation. It is a license to form a corporation issued by state government or, in some jurisdictions, by non-governmental entity/corporation. Its precise meaning depends upon the legal system in which it is used. Commonwealth systems In the U.S. a certificate of incorporation is usually used as an alternative description of a corporation's articles of incorporation. The certificate of incorporation, or articles of incorporation, form a major constituent part of the constitutional documents of the corporation. In English and Commonwealth legal systems, a certificate of incorporation is usually a simple certificate issued by the relevant government registry as confirmation of the due incorporation and valid existence of the company. In other common law legal systems, the certificate of incorporation has less legal significance. However, it has been held by the House of Lords in ''C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NSW Court Of Appeal
The New South Wales Court of Appeal, part of the Supreme Court of New South Wales, is the highest court for civil matters and has appellate jurisdiction in the Australian state of New South Wales. Jurisdiction The Court of Appeal operates pursuant to the . The Court hears appeals from a variety of courts and tribunals in New South Wales, in particular the Supreme Court, the Industrial Court, the Land and Environment Court, the District Court, the Dust Diseases Tribunal, the Workers Compensation Commission, and the Government and Related Employees Appeal Tribunal. The Court of Appeal must grant leave to appeal a judgment of an inferior court, before it hears the appeal proper. If a petitioner is not satisfied with the decision made by the Court of Appeal, application may be made to the High Court of Australia for special leave to appeal the decision before the High Court. Because special leave is only granted by the High Court under certain conditions, the Court of Appeal i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Company Law Reports
Law reports covering the decisions of Australian Courts are collections of decisions by particulars courts, subjects or jurisdictions. A widely used guide to case citation in Australia is the '' Australian Guide to Legal Citation'', published jointly by the '' Melbourne University Law Review'' and the '' Melbourne Journal of International Law''. {{DEFAULTSORT:Law Reports in Australia List of Law Reports in Australia Case law reporters Australian law-related lists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NSW Law Reports
The NSW Law Reports are the official reports of the courts of New South Wales, Australia. The reports are published by The Council of Law Reporting for New South Wales and cover selected cases heard in the Supreme Court of New South Wales. Each state in Australia has an official body which is responsible for the reporting of cases. At the Commonwealth level the responsibility rests with judges. The Commonwealth Law Reports are the authorised reports of the High Court of Australia. Judgments which are included in the reports are selected on the basis their significance in relation to the interpretation, development or application of the law in New South Wales. Fewer than 10% of all judgments are eventually selected for publishing. The current editor is Bret Walker who has held the position since 2006. From 1900 to 1950 the reports were known as the State Reports (New South Wales). The NSW Law Reports currently holds a monopoly on certain reported cases; these cases are n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marra Developments Ltd V BW Rofe Pty Ltd
''Marra Developments Ltd v BW Rofe Pty Ltd'',''Marra Developments Ltd v BW Rofe Pty Ltd'' 9772 NSWLR 616; 3 ACLR 185. NSW Court of Appeal. is a NSW Court of Appeal case on Australian company law, and is an authority for the proposition that an interim dividend was revocable until the dividend was paid, a declared final dividend was a debt payable by the company to the shareholder from the date stipulated for payment.. BW Rofe Pty Ltd was a shareholder in Marra Developments, which had declared a dividend. When the time came for the payment of the dividend, the directors of Marra declined to make payment. Marra had profits available when it declared the dividend. However, between the declaration of the dividend and the date upon which it was to be paid, the assets of Marra were revalued. The revaluation caused a diminution in the book value of Marra's assets which wiped out the company's profit for the year. Marra obtained a declaration from the Supreme Court that the sharehol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superannuation Industry (Supervision) Act 1993
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "Defined benefit pension plan, defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with Severance package, severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Codetermination
In corporate governance, codetermination (also "copartnership" or "worker participation") is a practice where workers of an enterprise have the right to vote for representatives on the board of directors in a company. It also refers to staff having binding rights in work councils on issues in their workplace. The first laws requiring worker voting rights include the Oxford University Act 1854 and the Port of London Act 1908 in the United Kingdom, the Act on Manufacturing Companies of 1919 in Massachusetts in the United States (although the act's provisions were completely voluntary), and the Supervisory Board Act 1922 (''Aufsichtsratgesetz 1922'') in Germany, which codified collective agreement from 1918. Most countries with codetermination laws have single-tier board of directors in their corporate law (such as Sweden, France or the Netherlands), while a number in central Europe (particularly Germany and Austria) have two-tier boards. The threshold of a company's size where co- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Electoral Act 1918
The ''Commonwealth Electoral Act 1918'' is an Act of the Australian Parliament which continues to be the core legislation governing the conduct of elections in Australia, having been amended on numerous occasions since 1918. The Act was introduced by the Nationalist Party of Billy Hughes, the main purpose of which was to replace first-past-the-post voting with instant-runoff voting ("preferential voting") for the House of Representatives and the Senate. The Labor Party opposed the introduction of preferential voting. The Act has been amended on several occasions since. Previous legislation The 1918 Act replaced the ''Commonwealth Franchise Act 1902'', which had defined who was entitled to vote in Australian federal elections, and the ''Commonwealth Electoral Act'' 1902. The 1902 Franchise Act set uniform national franchise criteria, establishing the voting age at 21 years and women's suffrage at the national level, also a right to stand for election to the Parliament. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder Oppression
Shareholder oppression occurs when the majority shareholders in a corporation take action that unfairly prejudices the minority. It most commonly occurs in non-publicly traded companies, because the lack of a public market for shares leaves minority shareholders particularly vulnerable, since minority shareholders cannot escape mistreatment by selling their stock and exiting the corporation. The majority shareholders may harm the economic interests of the minority by refusing to declare dividends or attempting a squeezeout. The majority may physically lock the minority out of the corporate premises and even deny the minority the right to inspect corporate records and books, making it necessary for the minority to sue every time it wants to look at them. An important concept in law pertaining to shareholder oppression is the " reasonable expectations" of the minority shareholder. The " fair dealing" standard is also sometimes used by courts. The potential for shareholder oppression ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CA 2001
The ''Corporations Act 2001'' (Cth) is an Act of the Parliament of Australia, which sets out the laws dealing with business entities in the Commonwealth of Australia. The company is the Act's primary focus, but other entities, such as partnerships and managed investment schemes, are also regulated. The Act is the foundational basis of Australian corporate law, with every Australian state having adopted the Act as required by the Australian Constitution. The Act is the principal legislation regulating companies in Australia. It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising. Background Constitutional basis Australian corporate law was the subject of a successful legal challenge in the High Court of Australia in ''New South Wales v Commonwealth'' (1990) ('The Corporations Act Case'). In that case, the Commonwealth was found to have insuf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Business Number
The Australian Business Number (ABN) is a unique 11-digit identifier issued by the Australian Business Register (ABR) which is operated by the Australian Taxation Office (ATO). The ABN was introduced on 1 July 2000 by John Howard's Liberal government as part of a major tax reform, which included the introduction of a GST. The law requires each entity that carries on a business in Australia has an ABN and that the ABN appear on each tax invoice and other tax related documents issued by the entity. Australian Business Register The Australian Business Register (ABR) is maintained by the Registrar of the ABR, who is also the Commissioner of Taxation. The Registrar registers entities, issuing them with an ABN, while the Commissioner of Taxation issues the entity a tax file number. Entitlement to an ABN The Registrar issues ABNs only to entities that are entitled to an ABN, which can be: * an individual, * a body corporate, * a corporation sole, * a body politic, * a partnership, * a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
