Foreign Corporations (Application of Laws) Act 1989

'The Foreign Corporations (Application of Laws) Act 1989' is an Australian federal law that sets out how laws from other countries should be applied to foreign corporations operating in Australia. The Act, which received royal assent on December 29, 1989, commences on the day it receives royal assent and applies both within and outside Australia.

The Act extends to each of the external Territories and binds the Crown in right of the Commonwealth, each of the States, the Australian Capital Territory, and the Northern Territory.

It defines key terms such as 'asset', 'Australian law', 'body', 'foreign corporation', 'incorporate', 'law', 'officer', and 'place'. The Act provides for the extraterritorial operation of its provisions both within Australia and outside it.

The main focus of the Act is to determine how questions related to foreign corporations are to be answered, which includes matters like status, membership, shareholders' share capital, officers' rights, and liabilities.

Misdescribed amendments made to the compiled law can be incorporated into the compilation if they can be given effect as intended. However, any misdescribed amendment that cannot be given effect is annotated with '(md not incorp)' in the amendment history section of this compilation.

The Act has undergone several amendments since its inception. It was amended by Norfolk Island Legislation Amendment Act 2015, which made changes effective from July 1, 2016. Additionally, Territories Legislation Amendment Act 2016 made further adjustments that came into effect on March 24, 2016.

This compilation of the Foreign Corporations (Application of Laws) Act 1989 shows the law as amended up to May 26, 2015, and is registered for public access with the compilation date being July 1, 2016.