Use of the Corporate Form for Public Benefit - Revitalisation of Australian Corporations Law
(2020) 43(3) University of New South Wales Law Journal (Advance)
30 Pages Posted: 5 Oct 2020 Last revised: 27 Oct 2020
Date Written: August 2, 2020
This article specifically addresses the theme of revitalisation of Australian law in the facilitation of purpose-based companies. It is the second of two articles on purpose-based governance in the charitable and for-profit spheres. Building on the first article, this article critically analyses relevant features of the Australian corporations law regime. It pays close attention to challenges relating to the application of directors’ duties where companies have multiple purposes and to the drafting of appropriate constitutional provisions. In so doing it draws on insights from overseas jurisdictions that have enacted legislation to enable purpose-based companies.
Keywords: company law, directors' duties, purpose, social enterprise, benefit corporations, stakeholders
JEL Classification: K22, K10
Suggested Citation: Suggested Citation