The primary source of regulation for corporate governance in Australia is the Corporations Act 2001 (Cth). Corporate governance is also subject to common law principles within the court system.
The Corporations Act covers every aspect of a company’s existence and operation. The Act also regulates director and officer duties, takeovers and fundraising, shareholder rights and financial reporting requirements. The Australian Securities Exchange’s (ASX) Listing Rules apply to ASX-listed entities and govern the admission and removal of entities to and from the official list, quotation and suspension of securities for trade, disclosure and conduct requirements (among other things). The Listing Rules are enforceable under the Corporations Act and upon admission entities agree to be bound by these rules.