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The Corporations Act 2001 is a key piece of Australian legislation that governs how companies operate within Australia. It sets out the laws related to the formation, regulation, and management of companies, including rules around directors' duties, financial reporting, and shareholder rights. Administered by the Australian Securities and Investments Commission (ASIC), the Act also covers issues like takeovers, fundraising, and insolvency. Essentially, it ensures transparency, accountability, and fairness in business operations, protecting both the interests of the public and the corporate sector. By enforcing these rules, the Corporations Act plays a vital role in maintaining trust in the Australian business environment.