MarketplaceGRCCorporations Act 2001
GRCLaw

Corporations Act 2001

Corporations Act 2001

The Corporations Act 2001 is Australia’s primary legislation regulating companies and other business entities. It outlines fiduciary duties for directors, including acting in good faith, exercising care and diligence, avoiding improper use of information or position, and disclosing certain interests.

Overview

The Corporations Act 2001 establishes a comprehensive legal framework for corporate governance in Australia. Enforced at a federal level, the Act imposes specific legal obligations on directors, secretaries, and officers of entities incorporated under this legislation. Key duties include acting in good faith for the best interests of the corporation, avoiding conflicts of interest, and adhering to standards of care and diligence. Criminal penalties and civil liabilities apply for breaches, including fines, disqualification from office, and potential compensation orders. Directors must also actively engage in corporate matters, avoid improper uses of their position or information, and disclose material personal interests related to their role. These duties align with common law obligations for board members of government entities.

Related in GRC

GRCStandard

ISO 14001 — ISO 14001:2026 - Environmental management systems

ISO 14001:2026 is the internationally recognized standard for environmental management systems (EMS). It offers a framework for organizations to improve environmental performance through methods including resource optimization, waste management, and stakeholder engagement.

International Organization for Standardization (ISO) • v2026

View details
GRCLaw

SOX — Sarbanes-Oxley Act of 2002

The Sarbanes-Oxley Act (SOX) is a U.S. federal law enacted in 2002 to enhance corporate accountability and financial transparency in response to major corporate scandals. It applies to publicly traded companies, mandating stricter financial reporting, internal controls, and governance standards.

US Government • United States

View details
GRCLaw

AML/CTF Act — Anti-Money Laundering and Counter-Terrorism Financing Act 2006

This is an Australian law established to prevent money laundering and financing of terrorism. It imposes obligations on certain entities to implement anti-money laundering and counter-terrorism financing measures, including customer due diligence, reporting, and record-keeping.

Australian Government • Australia • vCompilation No. 60, 31 March 2026

View details
GRCLaw

AML/CTF Rules — Anti-Money Laundering and Counter-Terrorism Financing Rules 2025

The Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 provide detailed obligations on reporting entities in Australia to prevent financial crimes, including money laundering and terrorism financing. Administered by the Department of Home Affairs, it supports compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Australian Government • Australia • vCompilation No. 1, 31 March 2026

View details

Ready to manage these frameworks?

6clicks maps regulations to controls, evidence and risks — automatically.

Book your strategy call