The Theoretical Foundations of Australian Corporations Law Reform: Some Lessons for Reformers
Journal of International Commercial Law, Vol. 1, No. 3, pp. 323-349, 2003
15 Pages Posted: 8 Jul 2009 Last revised: 29 Dec 2015
Date Written: 2003
Abstract
This paper seeks to identify some broad theoretical dimensions of Australian corporations law reform. It has been rare for corporations law reformers to present themselves as being motivated by a particular theoretical approach, although sometimes this may be evident, such as where an inquiry into an aspect of corporate law reform has proposed a new or revised framework in reforming corporate law (eg simplification or economic efficiency). However, there are few grand theories articulated within the Australian Corporations Act, and most theoretical statements are more narrowly focused. It should be noted that Australian law reformers have been somewhat uneasy about revealing or explaining their theoretical orientations; sometimes, this is because they have actually been operating pragmatically, as so often is the case in the law making process, so that a number of sometimes conflicting perspectives or theories may be conflated or combined.
Keywords: Theories, Corporations Act, Law Reform, Australia
JEL Classification: K22
Suggested Citation: Suggested Citation