Discuss s 51(xx) of the Australian Constitution - the Corporation Essay

Discuss s 51(xx) of the Australian Constitution - the Corporation Power - Essay Example tection of property from Federal acquisitions, freedom of interstate trade and the power of the Federal government to enter into external treaties etc. The Australian Constitution also provides for the existence of a Federal Parliament or the representative of the Queen, the Senate and a House of Representatives, whose members are chosen by the people of the Commonwealth in proportion to their numbers in various States. The Constitution provides that the Federal Parliament will have powers to make laws in relation to peace, order and good government of the Commonwealth with respect to matters related to trade, taxation, marriage, divorce, borrowing and much more. Section 51(xx) of Constitution, which is also known as the Corporations Power, grants the Federal Parliament the right to legislate in respect to foreign corporations and trading or financial corporations formed within the limits of the Commonwealth. The extent of the activities that can be regulated is unclear, but it has b een suggested that both acts of corporations related to trade and external activities are covered. This essay takes a look at this section of the Australian Constitution which has been used to bring into force The Trade Practices Act 1974, Corporations Act 2001, Foreign Acquisitions and Takeover Act 1975 as well as the Competition Policy Reform Act 1995 etc. The Constitution of the Commonwealth of Australia was framed in 1900 after the debates in the Australasian Federation Conference of 1890 and the Australasian Federal Conventions of 1891 and 1897-8. Those who attended these conferences were all sitting politicians who had been chosen by their respective colonial parliaments. The framers of the Australian Commonwealth Constitution had inherited principles of responsible government from the British Constitution and had adapted these principles to a Federation in the Australian context. The Constitution of Australia in an essence defines the structure of the Australian government,