Snark hunting: Progressive transformative possibilities in Australia's corporate law

Abstract

There has been little or no reform of Australian corporations law resulting from the furore over the James Hardie transactions, despite hopes and expectations. This article asks why this might be so. There appears to be no plot involved, although there may be a prevailing discourse amongst policy-makers that would make reform difficult. If reform is nevertheless to take place, something should be done. Given the path taken by Australian corporations law, concrete, bulletproof reform proposals for public interest derogations from shareholder primacy are required. This article suggests a process to develop and enact such proposals. It also indicates that there might be more at stake than change in the law