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The Corporations Act is basically the rulebook that governs how companies operate in Australia. It lays down the law on things like how companies are set up, how they're run, and how they should behave. The main goal is to make sure that businesses play fair, follow the rules, and don't pull any shady moves. It covers everything from the registration of companies to their financial reporting, shareholder rights, and the responsibilities of directors. In a nutshell, it's the legal backbone that keeps the business world in check Down Under.