Corporations law: a case study in federalism

Abstract

[Introduction]: Federalism, and its benefits and deficiencies, is likely to be the focus of much debate and discussion this year. Like most federal systems of government, ours is characterised by a formal distribution of legislative and executive power between the federal and state governments, under a written constitution, with an umpire, in the form of the High Court. Federalism has both its detractors and its supporters.... This paper considers the significant events in corporate regulation which have occurred over the past couple of years, reflecting briefly on how our federal system responded to those events.