Australian Owned Companies Act
Australian Owned Companies Act Protects the Rights of Directors, Shareholders, Employees, and Agents
The Australia Owned Companies Act is a Federal law that protects the directors, shareholders, employees, and agents of an Australian company. By providing this kind of protection, the act provides a safe haven for Australian companies that want to protect their assets. These provisions cover all types of business. It also applies to people related to the company or works for the company, such as accountants, bookkeepers, and employees. It also applies to any person who wants to buy or sell a company.
In Australia, there are two kinds of the company – limited and general. Both are separate entities with separate sets of rights and duties that come into play. The act protects the general companies from any of these different parties and protects the rights of each.