Book contents
- Frontmatter
- Contents
- Table of cases
- Table of statutes
- Preface
- PART ONE CORPORATE GOVERNANCE: AN OVERVIEW
- PART TWO CORPORATE GOVERNANCE IN AUSTRALIA
- 5 Corporate governance in Australia – background and business initiatives
- 6 Regulation of corporate governance
- 7 The role of the regulators: ASX and ASIC
- 8 CLERP 9 reforms to the Corporations Act
- PART THREE CORPORATE GOVERNANCE IN PRACTICE
- PART FOUR CORPORATE GOVERNANCE: AN INTERNATIONAL PERSPECTIVE
- PART FIVE CORPORATE GOVERNANCE: GOING FORWARD
- Index
6 - Regulation of corporate governance
- Frontmatter
- Contents
- Table of cases
- Table of statutes
- Preface
- PART ONE CORPORATE GOVERNANCE: AN OVERVIEW
- PART TWO CORPORATE GOVERNANCE IN AUSTRALIA
- 5 Corporate governance in Australia – background and business initiatives
- 6 Regulation of corporate governance
- 7 The role of the regulators: ASX and ASIC
- 8 CLERP 9 reforms to the Corporations Act
- PART THREE CORPORATE GOVERNANCE IN PRACTICE
- PART FOUR CORPORATE GOVERNANCE: AN INTERNATIONAL PERSPECTIVE
- PART FIVE CORPORATE GOVERNANCE: GOING FORWARD
- Index
Summary
The impetus for considering the impact of regulation on law is the growing importance of regulation. There is a broad and general move in the community to manage or regulate risk. This focus on regulation and risk management is, in turn, part of a broader interest in using a range of governance mechanisms to directly and indirectly ‘influence the flow of events’.
Angus Corbett and Stephen Bottomley, ‘Regulating Corporate Governance’ in Christine Parker, Colin Scott, Nicola Lacey and John Braithwaite (eds), Regulating Law, Oxford, Oxford UP (2004) 60.Overview
It will be clear from Figure 3.3 in Chapter 3 that we consider regulation of corporate governance as a prominent part of a good corporate governance model. This chapter builds on that model by focusing on the regulation of corporate governance in particular. It deals specifically with the various mechanisms, legislative and non-legislative, which regulate the corporation and which set in place, collectively, a framework by which good governance can be achieved. Overall, this collective body of mechanisms forms part of what has recently been described as an emerging ‘law of corporate governance’.
The regulation of corporate governance in Australia is achieved through both binding and non-binding rules, international recommendations and industry-specific standards, commentaries of scholars and practitioners and the decisions of judges. The legislature acts to facilitate the fulfilment of good corporate governance by refining the rules encompassing corporate law, and indirectly through the whole panoply of rules and regulations enacted which impact on the corporation and its activities in a variety of ways.
- Type
- Chapter
- Information
- Principles of Contemporary Corporate Governance , pp. 107 - 130Publisher: Cambridge University PressPrint publication year: 2005
- 1
- Cited by