Company under Corporations Act 2001

A company is a legal entity and it is governed by the Corporations Act 2001. As it is a legal entity, it is separate from its own directors and shareholders. Companies are regulated by ASIC (Australian Securities & Investments Commission). Each company may have its own set of rules which can be laid out in its constitution. If a company does not have a constitution it goes by the “replaceable rules” of the Corporations Act 2001.

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