Journal articles on the topic 'Corporation law Australia'
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1
Lockwood, Peter. "Australia introduces controlled foreign corporation regime." Intertax 17, Issue 10 (October 1, 1989): 435–41. http://dx.doi.org/10.54648/taxi1989084.
2
Arzandeh, Ardavan. "RECONSIDERING THE AUSTRALIAN FORUM (NON) CONVENIENS DOCTRINE." International and Comparative Law Quarterly 65, no. 2 (April 2016): 475–91. http://dx.doi.org/10.1017/s0020589316000014.
Abstract:
AbstractA quarter of a century after the High Court of Australia's landmark ruling in Voth v Manildra Flour Mills Pty Ltd, this article examines the application of the modern-day forum (non) conveniens doctrine in Australia. It outlines the prevailing view in the academic literature which claims that the Australian doctrine is functionally different from its English counterpart, articulated in Spiliada Maritime Corporation v Cansulex Ltd. Through a detailed assessment of the case law and commentary, this article questions that widely accepted orthodoxy and demonstrates it to be unpersuasive and reconceptualizes our understanding of the forum (non) conveniens doctrine in Australia. Its main contention is that while, theoretically, there may be a narrow conceptual space between Spiliada and Voth, it is so narrow as to be practically non-existent.
3
Boughey, Janina. "Re-Evaluating the Doctrine of Deference in Administrative Law." Federal Law Review 45, no. 4 (December 2017): 597–625. http://dx.doi.org/10.22145/flr.45.4.6.
Abstract:
It is frequently said that Australian administrative law does not have, and cannot accommodate, a doctrine of deference. These statements, from judges and commentators, tend to cite the High Court's decision in Corporation of the City of Enfield v Development Assessment Commission1 as authority. In that case, the High Court of Australia indicated that Australia's strict separation of powers, as manifested by the legality/merits distinction, does not allow courts to defer to administrative bodies in determining the meaning of ambiguous statutory provisions. Since Enfield, there have been considerable developments in the application, and theorisation, of deference across the common law world. This article examines developments in the UK and Canada, and argues that they show that there is no single ‘doctrine’ of deference – deference is applied in administrative law in a range of ways. I argue that some of the ways in which Canadian and UK courts apply deference are not dissimilar from the principles Australian courts already apply in reviewing executive action. I argue that Australian law may benefit from greater attention to, and wider application of, these deferential principles, in order to curb judicial intrusion into administrative discretion.
4
McEniery, Ben. "Physicality in Australian Patent Law." Deakin Law Review 16, no. 2 (December 1, 2011): 461. http://dx.doi.org/10.21153/dlr2011vol16no2art110.
Abstract:
It is generally understood that the patent system exists to encourage the conception and disclosure of new and useful inventions embodied in machines and other physical devices, along with new methods that physically transform matter from one state to another. What is not well understood is whether, and to what extent, the patent system is to encourage and protect the conception and disclosure of inventions that are non-physical methods — namely those that do not result in a physical transformation of matter. This issue was considered in Grant v Commissioner of Patents. In that case the Full Court of the Federal Court of Australia held that an invention must involve a physical effect or transformation to be patentable subject matter. In doing so, it introduced a physicality requirement into Australian law. What this article seeks to establish is whether the court’s decision is consistent with the case law on point. It does so by examining the key common law cases that followed the High Court’s watershed decision in National Research Development Corporation v Commissioner of Patents, the undisputed authoritative statement of principle in regard to the patentable subject matter standard in Australia. This is done with a view to determining whether there is anything in those cases that supports the view that the Australian patentable subject matter test contains a physicality requirement.
5
Davies, Paul S. "INTERPRETATION AND RECTIFICATION IN AUSTRALIA." Cambridge Law Journal 76, no. 3 (November 2017): 483–86. http://dx.doi.org/10.1017/s0008197317000733.
Abstract:
Both interpretation and rectification continue to pose problems. Difficulties are compounded by blurring the boundary between the two. In Simic v New South Wales Land and Housing Corporation [2016] HCA 47, the High Court of Australia overturned the decisions of the lower courts which had held that performance bonds could be interpreted in a “loose” manner in order to correct a mistake. However, the documents could be rectified in order to reflect the actual intentions of the parties. This decision should be welcomed: the mistake was more appropriately corrected through the equitable jurisdiction than at common law. Significantly, the concurring judgments of French C.J. and Kiefel J. highlight that the law of rectification now seems to be different in Australia from the law in England. It is to be hoped that the English approach will soon be revisited (see further P. Davies, “Rectification versus Interpretation” [2016] C.L.J. 62).
6
Castles, Madeleine, Tom Hvala, and Kieran Pender. "Rethinking Richardson: Sexual Harassment Damages in the #MeToo Era." Federal Law Review 49, no. 2 (March 9, 2021): 231–71. http://dx.doi.org/10.1177/0067205x21993146.
Abstract:
The 2014 judgment in Richardson v Oracle Corporation Australia Pty Ltd (‘ Richardson’) had a seismic effect on workplace sexual harassment claims in Australia. Overnight, the ‘general range’ of damages awarded for non-economic loss in such cases increased from between $12 000 and $20 000 to $100 000 and above. The judgment has made Sex Discrimination Act 1984 (Cth) litigation considerably more attractive for plaintiffs and resulted in greater judicial recognition of the pain and suffering experienced by sexual harassment survivors. Richardson’s impact has also been felt beyond that immediate context, with the judgment cited in support of higher damages in discrimination cases and employment disputes. However, six years and over 40 judicial citations later, Richardson’s broader significance remains unclear—particularly following the emergence of the #MeToo movement. Drawing on a doctrinal analysis of subsequent case law and qualitative interviews with prominent Australian legal practitioners, this article evaluates Richardson’s legacy and considers how sexual harassment litigation may further evolve to reflect changing societal norms.
7
Cleary, Paul. "Native title contestation in Western Australia's Pilbara region." International Journal for Crime, Justice and Social Democracy 3, no. 3 (December 1, 2014): 132–48. http://dx.doi.org/10.5204/ijcjsd.v3i3.182.
Abstract:
The rights afforded to Indigenous Australians under the Native Title Act 1993 (NTA) are very limited and allow for undue coercion by corporate interests, contrary to the claims of many prominent authors in this field. Unlike the Commonwealth’s first land rights law, Aboriginal Lands Rights (Northern Territory) Act 1976 (ALRA) , the NTA does not offer a right of veto to Aboriginal parties; instead, they have a right to negotiate with developers, which has in practice meant very little leverage in negotiations for native title parties. And unlike ALRA, developers can deal with any Indigenous corporation, rather than land councils. These two factors have encouraged opportunistic conduct by some developers and led to vexatious litigation designed to break the resistance of native title parties, as demonstrated by the experience of Aboriginal corporations in the iron ore-rich Pilbara region of Western Australia.
8
Mia, Parvez, Tarek Rana, and Lutfa Tilat Ferdous. "Government Reform, Regulatory Change and Carbon Disclosure: Evidence from Australia." Sustainability 13, no. 23 (November 30, 2021): 13282. http://dx.doi.org/10.3390/su132313282.
Abstract:
This paper examines the effect of two Australian environmental regulatory changes, specifically the Clean Energy Act (CEA) 2011 and the National Greenhouse and Energy Reporting (NGER) Act 2007 with reference to voluntary corporate carbon disclosure practices. In doing so, it describes the brief history of this carbon-related regulatory change, its scope, enforcement criteria and corporations’ disclosures. This is a longitudinal analysis of 219 annual reports of 73 listed corporations in Australia which were subjected to carbon tax and report carbon emissions as per the CEA 2011 and NGER Act 2007 accordingly. Any corporation or facility that emitted scope 1 emissions of 25,000 tonnes of carbon dioxide equivalent (CO2-e) or more were liable for a carbon tax in accordance with CEA 2011. Drawing on stakeholder theory and legitimacy theory, this study uses content analysis to examine corporate carbon disclosure. The findings suggest there is a considerable increase in the number of carbon-related disclosures following these regulations being enacted as law. In addition, carbon-specific communication has become much more prevalent and accounts for a larger proportion of the sampled organisations’ reported environmental information. The results of this study enrich the validity of the hypothesis that organisations would seek to legitimise their operations to stakeholders by increasing their environment-related declarations. The evidence presented in the analysis confirms the assertion that government environmental legislation/regulation has a positive impact on corporate behaviour and accountability. These findings have significant consequences for the government, decision-makers and the accounting profession, indicating that regulatory guidance enhances both mandatory and voluntary disclosure. It also offers key insights into the possible impacts of the carbon regulatory change for future research to consider.
9
Keyzer, Patrick. "Freedom of speech issues in Peach v Toohey and a hypothetical variant of that case." Pacific Journalism Review : Te Koakoa 10, no. 1 (April 1, 2004): 139–52. http://dx.doi.org/10.24135/pjr.v10i1.784.
Abstract:
The purpose of this article is to consider the tensions within Australian free speech jurisprudence based on a hypothetical variant of the facts of the decision of the Supreme Court of the Northen Territory in Peach v Toohey. In particular, this article briefly explores the competing legal interests that operate when journalists seek access to restricted areas, in this case aborginal land, in the course of an investigation. After considering the case and the issues it raises the author develops a hypothetical that draws out some of the deeper tensions in this area of the law. The article concludes with proposals for new apporoaches to the test developed by the High Court of Australia in Lange v Australian Broadcasting Corporation for the balancing of freedom to discuss political and governmental affairs—including the public right to know — against other legitimate objectives such as the maintence of property rights and the privacy interests that can be associated with propety rights.
10
Fraser JA, Hugh B. "2017 WA Lee Lecture: The Australian Law of Contractual Penalties." QUT Law Review 18, no. 2 (January 25, 2019): 111. http://dx.doi.org/10.5204/qutlr.v18i2.763.
Abstract:
In 2005, in Ringrow Pty Ltd v BP Australia Pty Ltd,[1] the High Court (Gleeson CJ, Gummow, Kirby, Hayne, Callinan and Heydon JJ) observed that Lord Dunedin’s formulation in Dunlop Pneumatic Tyre Co Ltd v New Garage & Motor Co Ltd,[2] of the principles governing the identification, proof and consequences of penalties in contractual stipulations had endured for 90 years and had been applied countless times in the High Court and other courts. (The Court cited, as examples, O’Dea v Allstates Leasing System (WA) Pty Ltd,[3] Acron Pacific Ltd v Offshore Oil NL,[4] AMEV-UDC Finance Ltd v Austin,[5] Stern v McArthur,[6] and Esanda Finance Corporation Ltd v Plessnig.[7]) The Court proceeded on the basis that Dunlop continued to express the law applicable in Australia, leaving any more substantial reconsideration for a future case where reconsideration or reformulation might be in issue.
[1] (2005) 224 CLR 656 [12].
[2] [1915] AC 79, 86–8.
[3] (1983) 152 CLR 359, 368, 378, 399, 400.
[4] (1985) 157 CLR 514, 520.
[5] (1986) 162 CLR 170, 190.
[6] (1988) 165 CLR 489, 540.
[7] (1989) 166 CLR 131, 139, 143, 145.
11
Priya Kumari and Rishi Kumar. "Business Judgment Rule: Defense for the Directors in Cases of Alleged Breach of Duties." Legal Research Development: An International Refereed e-Journal 4, no. III (March 30, 2020): 34–43. http://dx.doi.org/10.53724/lrd/v4n3.04.
Abstract:
In this article researchers will explain about Business Judgment Rule and how it can be used as a defence by the directors’ of the corporation. In simple language it can be said that the “Business judgment rule” is nothing but a judicially evolved doctrine derived out of case laws in the field of corporate laws. This doctrine has its origin in USA followed by U.K. The rule is in use in some form or the other in the common law countries e.g. whales, Australia, Canada, India &c. Australia has codified this rule under sec.1180(2) Corporations Act 2001, in South Africa Companies Act 71 of 200 section 76(4) provides for director’s duty to work towards best interest of the business with due care, skill and diligence, in India section 166(2) of Companies Act, 2013 requires that for the benefit of different constituencies of a company a director must act bona fide to promote the object of the company. The Business Judgment Rule tries to protect the directors of the company by creating a safe harbour for those who works for the betterment and interest of the corporations in an honest manner and in good faith. The scope of the paper is restricted to mainly US decisions, which has seen the greatest development in interpreting cases, though certain important landmarks in the Indian and UK context have also been referred to. The paper is limited by secondary sources such as books, articles and reports available on the subject.
12
Reynolds, Rocque. "The Police Logic of Balancing the Interests in Copyright Law." Public Space: The Journal of Law and Social Justice 5 (December 9, 2010): 21. http://dx.doi.org/10.5130/psjlsj.v5i0.1874.
Abstract:
This article examines the use of the phrase ‘balancing the interests’ in political debate relating to copyright law. I argue that this phrase no longer leads to broad debate on the proper balance to be struck between private, public and social interests in copyright law. Rather, today the phrase has come to represent a type of police logic which reflects the private interests of copyright owners and users as they already exist. Drawing on the work of Jacques Rancière I suggest that this balance of private interests may be upset by a strategy of ‘subjectivisation’ which challenges the existing distribution of social bodies by making new subjects appear. I conclude that the recent cases of Telstra Corporation v Phone Directories Company Pty Ltd1 and IceTV Pty Ltd v Nine Network Australia Pty Ltd2 represent a surprising and effective use of this strategy by reintroducing the ‘artist’ and the ‘maker’ into copyright law in such a way as to upset and displace the prior claims of copyright owners and users.
13
Symes, Christopher F. "A new statutory director?s duty for Australia ? a ?duty? to be concerned about employee entitlements in the insolvent corporation." International Insolvency Review 12, no. 3 (2003): 133–45. http://dx.doi.org/10.1002/iir.112.
14
Korah, Valentine. "Access to Essential Facilities under the Commerce Act in the Light of Experience in Australia, the European Union and the United States." Victoria University of Wellington Law Review 31, no. 2 (May 1, 2000): 231. http://dx.doi.org/10.26686/vuwlr.v31i2.5955.
Abstract:
Drawing on recent developments in Australian, United Kingdom and United States jurisprudence, Professor Korah casts doubt on the approach recently taken by New Zealand courts in one of the most controversial areas of competition law: the access to its facilities that a corporation in a dominant position must give to its would-be competitors. She argues that before imposing such obligations courts ought to be more sophisticated in assessing the economic effects of such obligations and especially the need to preserve an incentive to make the considerable investment required to create such facilities. Professor Korah was the 1999 Chapman Tripp Fellow. This article is an edited version of a paper presented at the offices of Chapman Tripp during the tenure of the Fellowship.
15
Hunt, Chris D. L. "GOOD FAITH PERFORMANCE IN CANADIAN CONTRACT LAW." Cambridge Law Journal 74, no. 1 (March 2015): 4–7. http://dx.doi.org/10.1017/s0008197315000112.
Abstract:
IN Mellish v Motteux (1792) 170 E.R. 113, 157, Lord Kenyon observed that “in contracts of all kinds, it is of the highest importance that courts of law should compel the observance of honesty and good faith”. This passage echoes a similar statement by Lord Mansfield 25 years earlier in Carter v Boehm (1766) 97 E.R. 1162, 1910. Despite these early statements of principle, the modern common law has been notoriously hostile to the notion that contracting parties are under a general duty of good faith in the performance of their obligations (see W.P. Yee, “Protecting Parties' Reasonable Expectations: A General Principle of Good Faith” (2001) 1 Oxford U. Commonwealth L.J. 195), and there is certainly “no firm line of modern cases to support such an obligation” in English law (see L.E. Trakman and K. Sharma, “The Binding Force of Agreements to Negotiate in Good Faith” [2014] C.L.J. 598). Nevertheless, some recent decisions in Australia, Canada, and England have begun to imply obligations to perform certain types of promises, in certain classes of contracts, in an honest manner, crafting, in the words of Lord Bingham, “piecemeal solutions in response to piecemeal problems” (Interfoto Picture Library v Stiletto Visual Programmes Ltd. [1989] 1 QB 433, 439 (CA)). A recent English example is Yam Seng Pte Ltd. v International Trade Corporation Ltd. [2013] EWHC 111 (QB) in which Leggatt J. found there to be an implied duty of “honesty” and “fidelity to the bargain” in the context of a long-term distribution contract. Importantly, His Lordship emphasised that whether such obligations can be implied is a matter of construction, which involves ascertaining the parties' objective intentions through conventional techniques such as the principle of business efficacy. As implying such obligations depends entirely on the context of each contract (at paras [137]–[143]) there is, at present, no general principle of good faith performance in English contract law, despite some case-by-case recognition (see Mid-Essex Hospital Services N.H.S. Trust v Compass Group UK and Ireland Ltd. [2013] EWCA Civ 200, at [105], [150]).
16
Backhouse, Kim, and Mark Wickham. "Corporate governance, boards of directors and corporate social responsibility: The Australian context." Corporate Ownership and Control 17, no. 4 (2020): 60–71. http://dx.doi.org/10.22495/cocv17i4art5.
Abstract:
The challenge of corporate governance in Australian corporations is similar to those faced by the majority of corporations operating globally albeit the manner in which corporate governance is structured in Australia represents a strong reflection of the island continent’s people, egalitarian culture, and legislative framework. This article considers the legal framework in which Australian corporations operate within, which includes a discussion of corporate governance principles, the role of directors and ownership structures of companies in Australia. Australian board of director practices are discussed in detailed and this article outlines how these practices are heavily influenced by the Australian Commonwealth Corporations Law (which sets out mandatory legal requirements that all Australian companies must adhere to). The article continues to explore briefly directors’ remuneration practices, recent shareholder’s rights protection and activism, the importance of corporate governance and the link to firm performance, and finally the importance of corporate social responsibility in the Australian context.
17
Hanrahan, Pamela, and Tim Bednall. "From Stepping-Stones to Throwing Stones: Officers’ Liability for Corporate Compliance Failures after Cassimatis." Federal Law Review 49, no. 3 (May 19, 2021): 380–409. http://dx.doi.org/10.1177/0067205x211016573.
Abstract:
Australian corporate law allows for significant civil penalties to be imposed by a court on negligent corporate officers, including directors. For more than a decade, Australian Securities and Investments Commission used civil prosecutions for negligence exclusively in situations where an officer is alleged to have exposed their corporation to foreseeable risk of harm that would flow from a contravention by the corporation of a regulatory or disclosure obligation. This enforcement strategy—known as ‘stepping-stones’—has been strongly criticised, including by Rares J in his 2020 dissenting opinion in the Cassimatis appeal. This article explains how stepping-stones works as an enforcement strategy in the context of corporate compliance failures, explores the various criticisms of it, and argues for reform. It proposes a legislative alternative that rebalances individual officer liability, to reflect contemporary governance practices and encourage better management and oversight of non-financial risk in corporations.
18
Moore, R. K., and R. M. Willcocks. "SOME COMMERCIAL ASPECTS OF PETROLEUM EXPLORATION AND MINING." APPEA Journal 25, no. 1 (1985): 143. http://dx.doi.org/10.1071/aj84014.
Abstract:
The petroleum industry in Australia is at the centre of a web of complex laws. In addition to the legislation under which petroleum exploration and production tenements are granted there is a multiplicity of statutes and regulations, Commonwealth and State, which have a direct bearing on the conduct of those involved in exploring for or exploiting Australia's petroleum reserves. For example, the level of participation by foreigners is governed by the Commonwealth Foreign Investment Guidelines and the Foreign Takeovers Act 1975; the Commonwealth has control over the export of petroleum under the Customs (Prohibited Exports) Regulations and domestic markets are subject to the operation of the Crude Oil Allocation Scheme. The Commonwealth continues to have the right to regulate the transfer of funds to and from Australia under the Banking (Foreign Exchange) Regulations. Certain States such as South Australia and New South Wales have their own foreign investment guidelines.Not only this, there are revenue laws which govern very much the way in which petroleum projects are organised, interests transferred and otherwise dealt with and finance made available, such as State stamp duty legislation, Commonwealth income tax laws, and Commonwealth legislation imposing registration fees on dealings in exploration permits and production licences. A new tax, Resource Rent Tax, is to be introduced.Then there are laws which have an indirect bearing on petroleum activities such as the Companies Code which, in addition to governing the administration and organisation of companies, controls the way funds can be raised.The statutory and regulatory framework is only part of the picture. The rights and obligations of participants in petroleum projects as between themselves are almost always set out in a joint venture or joint operating agreement, the combination between the participants being known as an unincorporated joint venture. This form of business organisation is not a partnership; it is not the creature of legislation. Indeed it has been rarely referred to in Acts of Parliament. Problems arising under the joint venture agreement will be considered against the backdrop of the general law which unfortunately has seldom been called upon to resolve disputes between participants in joint ventures. An illustration of one of these rare instances is Brian Pty Ltd v United Dominions Corporation Ltd (1983), where the New South Wales Court of Appeal considered the fiduciary relationship of joint venturers.Despite this legislative and regulatory' backdrop and the uncertainties as to the true effect of joint venture agreements, the industry up until quite recently has survived with little litigation. This is no longer the case. Recent and pending litigation shows that there is no reluctance on the part of participants to take their disputes to court, often at great expense and with unfortunate results for previously close relationships. It must now be said that money spent to achieve proper and clear agreement on organisational and legal matters at the earliest stage of a project is money just as well spent as that on drilling and other operational activities.
19
Kilian, Neels. "A South African–Australian Perspective on the Legal Implications Related to being “Entitled to Serve” as a Director." Potchefstroom Electronic Law Journal 23 (July 23, 2020): 1–27. http://dx.doi.org/10.17159/1727-3781/2020/v23i0a8174.
Abstract:
This article focuses on an Australian piece of legislation and interesting case law, as well as how the Federal Court of Australia has applied Australia’s Corporations Act 2001, to characterise a person as a de facto director – that is, as a professed director whose appointment as such was defective. In this regard, the decisions of that Court will, as envisaged in the Constitution of the Republic of South Africa 1996, constitute persuasive authority. The Australian decision to be discussed in this article is significant in that the South African Companies Act 71 of 2008 does not contain substantively similar provisions to those of Australia’s Corporations Act 2001. For example, section 66(7) of the Companies Act 2008, contains the phrase “entitled to serve” as a director. This article explains the legal implications relevant to that expression, including whether it imposes a statutory condition precedent. This article also considers the validity of decisions taken by a person who is not “entitled to serve” as a director.
20
Chitimira, Howard. "A Comparative Synopsis of the Enforcement of Market Abuse Prohibition in Australia and South Africa." African Journal of Legal Studies 9, no. 1 (June 29, 2016): 46–77. http://dx.doi.org/10.1163/17087384-12342068.
Abstract:
In Australia, the market abuse prohibition is generally well accepted by the investing and non-investing public as well as by the government. This co-operative and co-ordinated approach on the part of all the relevant stakeholders has to date given rise to an increased awareness and commendable combating of market abuse activities in the Australian corporations, companies and securities markets. It is against this background that this article seeks to explore the general enforcement approaches that are employed to combat market abuse (insider trading and market manipulation) activity in Australia. In relation to this, the role of selected enforcement authorities and possible enforcement methods which may be learnt from the Australian experience will be isolated where necessary for consideration in the South African market abuse regulatory framework.
21
Crockett, Michael, and Muhammad Jahangir Ali. "Auditor independence and accounting conservatism." International Journal of Accounting & Information Management 23, no. 1 (March 2, 2015): 80–104. http://dx.doi.org/10.1108/ijaim-02-2014-0008.
Abstract:
Purpose – The purpose of this paper is to examine the efficacy of the current legislative provisions that protect auditor independence in Australia. The collapses of several high-profile companies (Enron and WorldCom in the USA, HIH insurance and OneTel in Australia) in the early 2000s has raised questions about audit quality and independence. In response, regulators have introduced new regulations and guidance to improve audit quality. In Australia, the Corporations Act 2001 (2001) was amended via the Corporate Law Economic Reform Program Act 2004. This study poses the question: do non-audit service fees influence the level of accounting conservatism? Design/methodology/approach – The sample used in this analysis consists of all available Australian listed companies from the years 2006 till 2010. Findings – Using multiple measures of accounting conservatism and the auditor-client economic bond, our results suggest that the level of the economic bond between the auditor and the client does not significantly influence the level of accounting conservatism. Originality/value – Our results demonstrate that the combination of intrinsic market mechanisms and regulation in Australia sufficiently protect auditor independence.
22
Nwafor, Anthony O. "The goal(s) of corporate rescue in company law: A comparative analysis." Corporate Board role duties and composition 13, no. 2 (2017): 20–31. http://dx.doi.org/10.22495/cbv13i2art2.
Abstract:
The concept of corporate rescue lays emphasis on corporate sustainability than liquidation. This trend in corporate legislation which featured in the United Kingdom Insolvency Act of 1986, Australian Corporations Act 2001, Indian Sick Industrial Companies (Special Provisions) Act of 1985 (as replaced by Companies Act, 2013 and supplanted by the Insolvency and Bankruptcy Code, 2016) has been adopted in the South African Companies Act of 2008. The goal(s) of corporate rescue in some of these jurisdictions are not clearly defined. The paper examines, through a comparative analysis, the relevant statutory provisions in the United Kingdom, India, Australia and South Africa and the attendant judicial interpretations of those provisions with a view to discovering the goal(s) of corporate rescue in those jurisdictions. It is argued that while under the United Kingdom and Australian statutory provisions, the administrator could pursue alternative goals of either rescuing the company or achieving better results for the creditors; the South African and Indian statutory provisions do not provide such alternatives. The seeming ancillary purpose of crafting a fair deal for the stakeholders under the South African Companies Act’s provision is not sustainable if the company as an entity cannot be rescued.
23
Anderson, Helen. "Parent company liability for asbestos claims: some international insights." Legal Studies 31, no. 4 (December 2011): 547–69. http://dx.doi.org/10.1111/j.1748-121x.2011.00202.x.
Abstract:
Throughout the world, the corporate group structure has long proved troublesome to the creditors, and particularly the tort creditors, of undercapitalised subsidiary companies. In the wake of Australia's James Hardie asbestos compensation inquiry, Senior Counsel assisting the Jackson Special Commission, Mr John Sheahan QC, called for the Commission to ‘recommend reform of the Corporations Act so as to restrict the application of the limited liability principle as regards liability for damages for personal injury or death caused by a company that is part of a corporate group...’. Following this call, in May 2008 the Corporations and Markets Advisory Committee released a report on long-tail liabilities, making various recommendations for reform. Separately, legislation was passed making pooling available for insolvent group companies in Australia. This paper examines the long-tail liability suggestions and the 2007 pooling amendments. It will be argued that neither of these is adequate for the proper protection of tort creditors of insolvent subsidiaries. It then considers international alternatives which might satisfy Mr Sheahan's appeal for reform.
24
Carr, Claudia. "Corporate social responsibility, human rights and law firms." Alternative Law Journal 44, no. 3 (April 11, 2019): 220–25. http://dx.doi.org/10.1177/1037969x19834109.
Abstract:
An increase in the power and reach of corporations has driven increasing concern with corporate responsibility. The social impact of corporations, including law firms, includes any interactions with human rights. This article argues that Australian law firms should engage more actively with human rights standards, and ensure that they are not unwittingly complicit in human rights violations. It identifies key areas in which law firms’ conduct may impact human rights, and suggests corporate responsibility practices and policies for adoption.
25
Ma, Yue, Leslie Wong, Benjamin Steven Vien, Thomas Kuen, Jayantha Kodikara, and Wing Kong Chiu. "Quasi-Active Thermal Imaging of Large Floating Covers Using Ambient Solar Energy." Remote Sensing 12, no. 20 (October 21, 2020): 3455. http://dx.doi.org/10.3390/rs12203455.
Abstract:
Melbourne Water Corporation has two large anaerobic lagoons at the Western Treatment Plant (WTP), Werribee, Victoria, Australia. The lagoons are covered using numerous sheets of high-density polyethylene (HDPE) geomembranes to prevent the emission of odorous gases and to harness biogas as a source of renewable energy. Some of the content of raw sewage can accumulate and form into a solid mass (called “scum”). The development of a large body of solid scum that rises to the surface of the lagoon (called “scumbergs”) deforms the covers and may affect its structural integrity. Currently, there is no method able to effectively “see-through” the opaque covers to define the spread of the scum underneath the cover. Hence, this paper investigates a new quasi-active thermal imaging method that uses ambient solar radiation to determine the extent of the solid matter under the geomembrane. This method was devised by using infrared thermography and a pyranometer to constantly monitor the transient temperature response of the HDPE geomembrane using the time varying ambient solar radiation. Newton’s cooling law is implemented to define the resultant cooling constants. The results of laboratory-scale tests demonstrate the capability of the quasi-active thermography to identify the presence and the extent of solid matter under the cover. This paper demonstrates, experimentally, the importance of measuring the surface temperature of the cover and solar intensity profiles to obtain the cooling process when during variations in solar intensity during normal sunrise, sunset, daily transitioning from morning–afternoon–evening and cloud cover events. The timescale associated with these events are different and the results show that these daily transient temperature cycles of the geomembranes can be used to detect the extent of the accumulation of solid matter underneath the geomembrane. The conclusions from this work will be further developed for field trials to practically monitor the growth in the extent of the scum under the floating covers in WTP with the ambient solar energy.
26
Grantham, Ross. "The Proceduralisation of Australian Corporate Law." Federal Law Review 43, no. 2 (June 2015): 233–57. http://dx.doi.org/10.22145/flr.43.2.3.
Abstract:
The central hypothesis of the paper is that bit by bit and largely unnoticed Australian corporate law has undergone a profound change. Australian corporate law, and particularly the Corporations Act 2001 (Cth), has moved from an essentially private law, substantive rights model, to one that seeks to regulate the company and those involved in its affairs through the prescription of processes and procedures by which corporate decisions may be made and by which the procedural correctness of those decisions is assured. The paper will also seek to demonstrate, by an analysis of the changes in the patterns of corporate case law, that this proceduralising trend has effected a fundamental change in the nature of corporate law and the role of the courts and may now claim to be a, if not, the principal characteristic of Australian corporate law. The paper concludes by highlighting some of the wider implications of this trend and the risk it poses to the intellectual heart of corporate law. The modern registered company owes its immediate creation to the legislature. Historically, however, the nature of the corporate form and the content of what is now known in Australia as corporate law has been very much more the work of the courts.1 It is thus the case that the decision of the House of Lords in Salomon v A Salomon & Co Ltd2 is more often cited as the foundation of modern corporate law than are the Joint Stock Companies Act 1844 (UK)3 or the Limited Liability Act 1855 (UK).4 It is also the case that the building blocks of corporate law were predominantly taken from the private law. Within the open girders of the statutory framework,5 corporate law was built out of the concepts of contract, property, and trust. It is thus not surprising that the company was, and is still, regarded as a fundamentally private legal and economic institution.6
27
Villiers, Bertus de. "Privatised Autonomy for the Noongar People of Australia – a sui generis Model for Indigenous Non-territorial Self-government." Verfassung in Recht und Übersee 53, no. 2 (2020): 171–89. http://dx.doi.org/10.5771/0506-7286-2020-2-171.
Abstract:
The Noongar people of the federal state of Western Australia have recently entered into what can be described as the most comprehensive settlement of a native title claim that spans an area of 200 000 square kilometres. The Settlement lays the foundation of a sui generis model for indigenous and minority self-determination in Australia and beyond. The Settlement sits between the spheres of public law and private law and provides for a form of non-territorial autonomy that is unique not only to Australia. The Noongar people are acknowledged as the traditional owners of the entire area, albeit that major other towns and cities are located in the area and the Noongar people only constitute very small minority. Whereas the topic of non-territorial self-government has been mainly explored in theory and in practice in the European domain, the Noongar Settlement shows how the principles that embody non-territorial autonomy may find root in other parts of the world. The potential relevance of the Noongar Settlement for non-territorial self-government of Aboriginal people or other minorities lies in four essential elements: firstly, creating for the Noongar people legal Corporations by statute for purposes of their self-government; secondly, decentralising powers and functions to the Corporations to enable them to perform the functions of a community government to its members; thirdly, to enable the elected Corporations to develop policies, make decisions and deliver pubic services on a personal rather than a geographical basis to the members of the community; and fourthly, to allow the Corporations to cooperate with and engage other levels of government within the system of intergovernmental relations in Australia. The Noongar Corporations, in effect, have the hallmarks of a fourth level government and represent a potential sui generis model for indigenous and minority non-territorial self-government.
28
Kapardis, M., and A. Kapardis. "Co-Regulation of Fraud — Detection and Reporting by Auditors in Australia: Criminology's Lessons for Non-Compliance." Australian & New Zealand Journal of Criminology 28, no. 2 (June 1995): 193–212. http://dx.doi.org/10.1177/000486589502800205.
Abstract:
All companies (other than exempt proprietary ones) are required by the Corporations Law to have their books audited. For about 150 years there has been a controversy surrounding the auditors' role — whether they should be functioning as a ‘watchdog’ or a ‘bloodhound’. In recent years the auditing profession in Australia has been experiencing a credibility crisis. A spate of much publicised corporate collapses in the late 1980s at a time of economic recession has been instrumental in: (i) the Australian Securities Commission (ASC) adopting more heavy-handed ways of policing auditing standards; (ii) rocketing audit fees; and (iii) the accounting bodies redefining their role and revising auditing standards. This paper focuses on current approaches to regulating the auditing profession, and discusses their effectiveness, drawing on the criminological literature relevant to professional advisers, white collar illegality, and deterrence.
29
Latimer, Paul, and Michael Duffy. "Deconstructing Digital Currency and Its Risks: Why ASIC Must Rise to the Regulatory Challenge." Federal Law Review 47, no. 1 (March 2019): 121–50. http://dx.doi.org/10.1177/0067205x18816237.
Abstract:
Digital currency is a ‘disrupter’ of financial services and currency markets, and as such presents new regulatory challenges. International regulatory responses to digital currency range from being largely ignored in some jurisdictions to being banned in others, with most jurisdictions charting a middle course of ‘wait and see’ while attempting to deal with pressing issues (such as taxation liability and potential money laundering and terrorism financing issues). This article explains digital currency, its benefits, its problems, its risks and the regulatory response so far. It analyses the extent to which the Australian Securities and Investments Commission (ASIC, the national securities regulator) may or may not have regulatory power and jurisdiction under existing Australian law, and the role of other relevant regulators and institutions. It concludes that digital currency may well be a ‘financial product’ under Corporations Act 2001 (Cth) s 763A (though many suppliers/issuers of that product will be website operators located outside Australia). If it is a financial product, ASIC would also have jurisdiction over issuers and markets that trade in that product. This conclusion could easily be fortified by legislative confirmation; however, it is suggested that ASIC should in all events test its powers to determine whether any legislative change is needed. Regulation by ASIC would add to recent moves to deal with digital currency by the Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Taxation Office (ATO). In all cases, this article argues that the time has come for Commonwealth regulation of digital currencies by ASIC as the relevant regulator. This would then trigger the obligations set out in the Corporations Act and the ASIC Act, including Australian Financial Services Licensing, Australian Market Licensing, standards of efficiency, honesty and fairness, disclosure provisions, possible market offences and corporate regulation generally. The suggested jurisdiction of ASIC would build on its existing role as well as the roles of the Australian Competition and Consumer Commission, the ATO and AUSTRAC.
30
Schofield-Georgeson, Eugene. "Silent Partners? Trade Unions, Corporations and Penalty Privilege in the Federal Court of Australia." Federal Law Review 50, no. 1 (February 15, 2022): 86–103. http://dx.doi.org/10.1177/0067205x211066143.
Abstract:
‘Penalty privilege’ is sometimes referred to as ‘the right to silence’ or more correctly the privilege against self-exposure to civil penalty. It is a procedural rule that applies equally to trade unions and corporations in Australian federal courts. This article critically investigates this equality of this treatment, revealing its historical evolution and arguing that it results in unequal outcomes, relative to the social and historical roles of unions and corporations. But it also discovers distinct incoherence in the application of penalty privilege, along with a host of related legislative interventions that have sought to entrench the equal treatment of trade unions and corporations more broadly. Accordingly, this article proposes a range of reform, with a particular focus on the application of penalty privilege in the federal arena. A more coherent application of penalty privilege, it is proposed, is one that applies in proportion to the social power exercised by persons and entities before the Court.
31
Popa, Tina, Anne Kallies, Vanessa Johnston, and Gabriella Belfrage-Maher. "Do Emerging Trends in Climate Litigation Signal a Potential Cause of Action in Negligence against Corporations by the Australian Public?" Climate Law 12, no. 3-4 (October 26, 2022): 185–215. http://dx.doi.org/10.1163/18786561-12030001.
Abstract:
Abstract Over the past two decades a global jurisprudential trend of domestic climate litigation against governments and companies has emerged. One avenue for litigation against these entities is tort law. The tort of negligence could provide access to compensation for aggrieved individuals and groups. Using the example of Australia, this article discusses whether the emergence of climate tort cases, an increasing drive to hold corporations responsible for climate change, and a company focus on voluntary climate action, could lead to the emergence of a new duty of care by corporate actors toward non-shareholders. We highlight opportunities and barriers to the further development of negligence law as a cause of action against corporations for harms related to climate change.
32
Latimer, Paul. "It's Time for Federal Regulation of Retirement Villages." Federal Law Review 45, no. 3 (September 2017): 469–93. http://dx.doi.org/10.22145/flr.45.3.5.
Abstract:
As Australia's population ages, increasing numbers of seniors move to a growing number of retirement villages. Unlike time shares, which are ‘managed investment schemes’ and therefore regulated as ‘financial products’ under corporate law administered nationally by the Australian Securities and Investments Commission (ASIC), the Commonwealth withdrew from the regulation of retirement villages in the 1980s on the basis that at that time they were local, usually run by religious bodies and charities and were not of national concern. The regulation of retirement villages was taken over by the states and territories under their non-uniform Retirement Villages Acts and the common law. Until then retirement villages, often indistinguishable from Commonwealth regulated timeshares, were regulated in the original State and Territory Uniform Companies Acts in 1961 as ‘interests’, and then in later Commonwealth legislation as ‘prescribed interests’ by the forebear of ASIC, the then National Companies and Securities Commission (NCSC) with the State and Territory Corporate Affairs Commissions as its ‘delegates’. Today retirement villages, which are largely owned and managed by the corporate sector, raise many issues of national concern such as accountability, fees and the rights of residents. Some aspects of retirement villages such as directors’ duties, fundraising, prospectuses and unregistered schemes are regulated as corporations by ASIC under the Corporations Act 2001 (Cth), but retirement villages are not regulated as ‘financial products’ under corporate law. This article challenges the effectiveness of state and territory regulation of retirement villages and calls for federal regulation of retirement villages by bringing retirement villages into the definition of ‘financial product’ in the Corporations Act 2001 (Cth) and in the Australian Securities and Investments Commission Act 2001 (Cth). As financial products, retirement villages would then be regulated by Commonwealth legislation which deals with financial services and financial markets, as regulated by ASIC. These laws include consumer protection provisions such as the prohibition of misleading or deceptive conduct, unfair contract terms, unconscionable conduct, licensing and high standards for those in the retirement village industry. This would result in a return to Commonwealth leadership of the regulation of retirement villages to harmonise and to consolidate the current mix of state and territory regulation with federal legislation including an enforceable Retirement Villages Code of Conduct.
33
Ramsay, Ian, and Lloyd Freeburn. "The Recent Australian Debate About Individual Liability for the Criminal Misconduct of Corporations." Business Law Review 42, Issue 5 (October 1, 2021): 214–20. http://dx.doi.org/10.54648/bula2021031.
Abstract:
When should a director or manager of a company be personally liable because their company has committed a criminal offence? The question is both important and controversial because many of the laws that impose this type of liability (called deemed liability provisions) do so without the need to prove that the director or manager was personally at fault. The question has received much attention recently in Australia because of proposals by the Australian Law Reform Commission to significantly expand the circumstances when this type of liability would be imposed on directors and managers. Following much criticism, the Commission withdrew its proposals and instead called for a wide-ranging review of the effectiveness of individual accountability mechanisms for corporate misconduct – in effect calling for another inquiry. This article outlines the Commission’s proposals and their objectives. It describes the criticisms that were made of the proposals and considers the proposals in the context of prior reviews and principles applying to deemed liability provisions. It is argued that the Commission was right to withdraw its proposals as they did not reflect a proper balancing of the advantages and disadvantages of deemed liability provisions, the proposals were not well drafted, and the formulation of the proposals did not appropriately consider earlier research and inquiries on deemed liability provisions.
34
Sharwood, Michael, and Kim Seman. "FUND RAISING AND THE PROSPECTUS." APPEA Journal 34, no. 1 (1994): 897. http://dx.doi.org/10.1071/aj93071.
Abstract:
Corporate regulation of fund raising has increased steadily since the 1960s, especially since the Corporations Law commenced in 1991. As a result of the Corporations Law and of amendments to the Listing Rules of Australian Stock Exchange Limited, it is now more complex and costly to raise funds for exploration.The fund raising concept of `offer to the public' has been replaced with a general prohibition on the offering of securities, subject to certain exceptions which are inconsistent in their application and limited in their usefulness.Although the ASC's objective was to obtain uniformity of administration and implementation of the Corporations Law, in the authors' opinion, it has failed to do so and, in addition, has demonstrated a wholly uncommercial and impractical approach to registration and post-vetting of prospectuses.A further impediment to fund raising is the ASX Listing Rule requiring a spread of 500 shareholders, each of which must hold a parcel of shares worth at least $2 000, before admission to the Official List may be granted.
35
Thornton, Margaret. "Equality and Anti-Discrimination Legislation: An Uneasy Relationship." Law in Context. A Socio-legal Journal 37, no. 2 (August 28, 2021): 12–26. http://dx.doi.org/10.26826/law-in-context.v37i2.149.
Abstract:
Despite the rhetoric of equality that infuses anti-discrimination legislation, a close analysis reveals that it is in-equality that is invariably privileged. With reference to the Australian example, this introductory article will show how the paradox is played out at multiple sites in terms of both form and substance, such as through the individualism and confidentiality of the complaint-based mechanism. A striking exclusion from the legislation is the attribute of class, the most significant manifestation of social inequality, which remains ineffable even when it significantly shapes other attributes. The prevailing political backdrop of neoliberalism plays a significant role in promoting inequality through competition policy and profit maximisation. Powerful corporations not only endeavour to resist transparency, but they also tend to oppose proactive measures in favour of substantive equality. The contradictions of anti-discrimination legislation thereby sustain in-equality while simultaneously espousing the rhetoric of equality.
36
Morrison, David. "Trustees in insolvency: the manifestation of Australia’s fascination with the use of the trust as a business vehicle." Trusts & Trustees 25, no. 10 (December 1, 2019): 995–1001. http://dx.doi.org/10.1093/tandt/ttz107.
Abstract:
Abstract Corporate trustees are prevalent in the operation of businesses in Australia. However, the Corporations Act in Australia makes no express provision for the insolvency of a corporate trustee. Given that the trading trust is often used for commercial purposes in Australia, together with a corporate trustee, it is important that the law reflects a clear and consistent approach in the event of the insolvency of a business owned by a trading trust. It is opined that the position of an insolvent corporate trustee ought to be, as far as possible, dealt with consistently with that of a business held directly by a company. Notwithstanding the recommendations of a 1988 inquiry reporting looming difficulty, no legislative correction has occurred. Consequently, a series of conflicting case law follows. This article considers recent developments in respect of judicial consideration in the context of the recommendations made more than 30 years previously.
37
Dempsey, Gillian. "Socio-Legal Research and Insider Trading in Australia." Australian & New Zealand Journal of Criminology 29, no. 3 (December 1996): 265–75. http://dx.doi.org/10.1177/000486589602900304.
Abstract:
Insider trading was the subject of extensive political debate from 1989 through to 1991, culminating in substantial amendments to the Corporations Law. The political climate for this legislative action was influenced by a high profile empirical study by Tomasic and Pentony asserting that insider trading was both widespread and harmful. This study is critically appraised with respect to a number of methodological issues and in particular, questions are raised as to whether the inferences drawn from the evidence are justifiable. Alternative methods for empirical research into the insider trading phenomenon are noted.
38
Kamalnath, Akshaya. "Indigenous corporations: Lessons from Māori business forms." Alternative Law Journal 46, no. 3 (May 5, 2021): 232–35. http://dx.doi.org/10.1177/1037969x211014983.
Abstract:
The economic and political empowerment of Indigenous people are linked although the issue of economic empowerment is often overlooked. This Brief analyses the corporate governance model and business structures used by Māori in New Zealand along with some developments in Canadian Indigenous businesses. Based on this, the Brief makes suggestions for proving the regulatory support and options available for Indigenous businesses in Australia.
39
Bittle, Steven. "In the Land of Corporate Impunity: Corporate Killing Law in the United States." Journal of White Collar and Corporate Crime 1, no. 2 (June 2020): 131–39. http://dx.doi.org/10.1177/2631309x20921566.
Abstract:
Since the early 2000s, a number of Western capitalist states, including Australia, Canada, and the United Kingdom, have enacted criminal laws aimed at holding corporations to account for negligently killing workers or members of the public. In the United States, however, the existing respondeat superior (vicarious liability) regime remains intact. Drawing insight from semistructured interviews with corporate lawyers, nongovernmental representatives, union/labor leaders, and academics, I argue the relative impunity for corporate killing in the United States has its roots in corporate power and related beliefs in law and economics scholarship. This article documents how corporate offending is downplayed through hegemonic ideals that corporations are inherently good and law-abiding and any “bad apples” can be dealt with through existing law and market forces. In this respect, the recent rollback of various social protections is not simply a result of Trump’s presidency but instead a product of the neoliberal political, economic, and moral order.
40
Morgut, Milosz. "Extraterritorial Application of U.S. Securities Law." European Business Law Review 23, Issue 4 (July 1, 2012): 547–63. http://dx.doi.org/10.54648/eulr2012030.
Abstract:
The globalization of securities industry resulted in many corporations deciding to cross-list on numerous exchanges and investors commonly trading on foreign markets. The multitude of overlapping regulatory regimes poses difficult questions not only for legal theorists but most importantly for the investors who seek remedies after suffering multibillion losses as a result of being deceived. The paper discusses the U.S. Supreme Court decision in Morrison v. National Australia Bank which dramatically changed the way in which the US securities regulation applies to foreign claims. The analysis looks at the judgments of lower courts in order to establish the real scope of the decision. Bearing in mind the new landscape in international securities litigation, the available courses of action which can be still taken by injured investors are presented. Finally, the paper evaluates the overall decision and its effect, suggesting certain legislative changes.
41
GADENNE, DAVID, and MONIR ZAMAN. "STRATEGIC ENVIRONMENTAL MANAGEMENT ACCOUNTING: AN EXPLORATORY STUDY OF CURRENT CORPORATE PRACTICE AND STRATEGIC INTENT." Journal of Environmental Assessment Policy and Management 04, no. 02 (June 2002): 123–50. http://dx.doi.org/10.1142/s1464333202000954.
Abstract:
This paper investigates the current state of corporate Australia's environmental management accounting practices and environmental management accountants' perceptions of how environmental management accounting information should be accounted for and reported in the annual report of an environmentally sensitive corporation. The results indicate that many Australian companies have not yet developed a holistic approach to environmental costing, and that environmental management accountants believe that environmentally induced costs and expenses should be reported as notes to financial statements, rather than in the profit and loss statement in the corporate annual report. However, results are inconclusive as to whether certain environmentally induced expenditure should be capitalised and amortised separately in the balance sheet, while there is some support for environmentally induced end-of-pipe and integrated technologies being recognised separately as assets in the balance sheet.
42
MCCALLUM, RON. "THE AUSTRALIAN CONSTITUTION AND THE SHAPING OF OUR FEDERAL AND STATE LABOUR LAWS*." Deakin Law Review 10, no. 2 (July 1, 2005): 460. http://dx.doi.org/10.21153/dlr2005vol10no2art287.
Abstract:
<div class="page" title="Page 1"><div class="layoutArea"><div class="column"><p><span>[</span><span>In this article, the author makes the serious point that labour laws based upon the “corporations power” under the </span><span>Australian Constitution </span><span>will be centred around corporations to the detriment of flesh and blood persons who interact with corporations. Wholesome labour laws seek to balance the rights, duties and obligations of employers and employees as equal le- gal actors in the processes of work and production. However, general la- bour laws of broad application which would be required to found a national labour regime, which were enacted in reliance upon the corpora- tions power, could not for long maintain this balance between employers and employees. In the fullness of time, these labour laws will become little more than a sub-set of corporations law, because inevitably they will fas- ten upon the economic needs of corporations and their employees will be viewed as but one aspect of the productive process in our globalized econ- omy</span><span>.] </span></p></div></div></div>
43
Kilian, Neels. "Differences between Members and Shareholders of a Friendly Society and the Payment of Dividends: A South African–Australian Perspective." Potchefstroom Electronic Law Journal 24 (June 18, 2021): 1–32. http://dx.doi.org/10.17159/1727-3781/2021/v24i0a10733.
Abstract:
This article focusses on a very specific problem statement, namely how shareholder society relationships are viewed in Australia and South Africa. Friendly societies are special "legal creatures" enjoying legal personality from the date and time of their registration (not as companies). In South Africa friendly societies have been in existence for more than 160 years, with the latest legislation being promulgated in 1956. As an unregistered company, the friendly society forms part of the South African business enterprise landscape and has both members and shareholders. The legal relationships between members and shareholders and the payment of a dividend are unclear in the Friendly Society Act, 1956, and are generally regulated by the constitution or memorandum of incorporation of the friendly society. In Australia friendly societies developed approximately 200 years ago. In 1999 friendly society legislation was repealed by the Financial Sector Reform Act, 1999, in terms of which friendly societies had to convert to companies either as companies limited by guarantee or public companies as regulated by the Corporations Act, 2001. Prior to 1999, friendly societies were largely regulated by the Queensland Friendly Society Act, 1997 as unregistered companies. The Code regulated the relationships between members and shareholders and the payment of dividends. In this article we also focus on Australian friendly societies after 1999 and how they compare with South African friendly societies with regard to the member/shareholder relationships and the payment of dividends.
44
Pasculli, Lorenzo. "The responsibilization paradox: The legal route from deresponsibilization to systemic corruption in the Australian financial sector." Policing: A Journal of Policy and Practice 15, no. 4 (November 9, 2021): 2114–32. http://dx.doi.org/10.1093/police/paab068.
Abstract:
Abstract Recent corruption scandals suggest that the legal structures developed to responsibilize corporations might paradoxically enable the systematization of corruption across entire industry sectors. This study uses grounded theory methodology to develop a preliminary theoretical model of the correlations between the law, responsibilization, and the causes of systemic corruption. Through a qualitative examination of documental evidence from the case study of the recent Australian banking scandal, this article conceptualizes a two-way process of ‘legal deresponsibilization’. On the one hand, legal dysfunctions fail to effectively support the situational and cultural goals of responsibilization. On the other hand, the pursuit of such goals transforms the law in ways that can lead to the deresponsibilization of both corporations and the state. The article suggests that structural reforms are needed to correct this process and the underlying systemic imbalances between the legal promotion of financial interests and that of countervailing values of integrity and accountability.
45
Hörisch, Jacob, Roger Leonard Burritt, Katherine L. Christ, and Stefan Schaltegger. "Legal systems, internationalization and corporate sustainability. An empirical analysis of the influence of national and international authorities." Corporate Governance: The International Journal of Business in Society 17, no. 5 (October 2, 2017): 861–75. http://dx.doi.org/10.1108/cg-08-2016-0169.
Abstract:
Purpose This paper aims to compare the influence of different legal systems on corporate sustainability management practices. Against the background of growing internationalization of business activities, it additionally considers whether internationalization allows companies to circumvent the influence of national authorities. Design/methodology/approach Three legal systems are compared using regression analyses of more than 200 large corporations in five countries: common law (USA and Australia), German code law (Germany) and French code law (France and Spain). Findings The impact of national and international authorities is found to be strongest in French code law countries. In addition, the influence of international authorities is stronger for corporations with higher shares of international sales. For both national and international authorities, the degree of internationalization is found to moderate the influence of the legal system on corporate sustainability practices. Practical implications The legal system in place influences the relative effectiveness of national and international authorities over company sustainability practices and needs to be taken into account in policymaking. To be effective, international authorities need to work with or substitute for national authorities in promoting corporate sustainability practices in countries depending on their legal systems. Originality/value This research applies and quantitatively tests La Porta’s (1998) framework on legal systems in the new context of corporate sustainability.
46
Kaye, Bruce N. "Codes of ethics in Australian business corporations." Journal of Business Ethics 11, no. 11 (November 1992): 857–62. http://dx.doi.org/10.1007/bf00872364.
47
Barrett, RI. "Towards Harmonised Company Legislation — ‘Are We There Yet’?" Federal Law Review 40, no. 2 (June 2012): 141–59. http://dx.doi.org/10.22145/flr.40.2.1.
Abstract:
The enactment of uniform companies legislation in 1961-2 was a significant achievement for a country in which, a century earlier, multiple incorporations of the one body was the norm and a court of one colony questioned the existence of corporate personality created by the law of another. After Federation, business interests increasingly sought uniform State laws. They opposed centralised regulation which, in any event, was beset by constitutional difficulties. Commonwealth legislation eventually became the preferred model as shortcomings of uniform and co-operative mechanisms were progressively exposed. Yet fully harmonised corporations legislation still does not exist. In this paper presented to the 2011 Hartnell Colloquium at the Centre for Commercial Law, Australian National University to mark the fiftieth anniversary of the Uniform Companies Acts, the author sketches the development of Australian companies legislation over the last 150 years.
48
Nelson, Febby Mutiara. "In Search of a Deferred Prosecution Agreement Model for Effective Anti-Corruption Framework in Indonesia." Hasanuddin Law Review 8, no. 2 (July 30, 2022): 122. http://dx.doi.org/10.20956/halrev.v8i2.3292.
Abstract:
To help reduce the corruption in the criminal justice system, Indonesia should consider implementing a Deferred Prosecution Agreement (DPA) mechanism. DPA would not only aiming for punishment to corporations, especially in special and general deterrence, but also could accommodate in returning state assets from perpetrators. Indonesia could learn from the DPA models applied in the U.K. and U.S., as well as the proposed model in Australia. DPA models could be noteworthy in making the criminal justice process more effective, efficient, and less time-consuming, as well as resolving the problems of significant caseloads and ongoing corruption.
49
Fishman, Paulina. "Statutory Misinterpretation: Rash Holding in Brash Holdings." Federal Law Review 45, no. 2 (June 2017): 199–221. http://dx.doi.org/10.1177/0067205x1704500203.
Abstract:
The modern approach to statutory construction guides the judiciary, the legal profession, litigants, and academics in interpreting the myriad legislative provisions in Australian law. Yet what if critical sections have been construed in ways that are irreconcilable with the basic rules of modern statutory interpretation? One of the most important commercial statutes in the country is the Corporations Act 2001 (Cth). This article exposes one instance of misinterpretation in respect of that statute, contained in a decision of a unanimous Full Court of the Supreme Court of Victoria, and makes proposals for resolving such quandaries.
50
Alcock, Jamie, and George Docwra. "A simulation analysis of the market effect of the Australian Broadcasting Corporation." Information Economics and Policy 17, no. 4 (October 2005): 407–27. http://dx.doi.org/10.1016/j.infoecopol.2005.02.001.