Corporate Law Economic Reform Program Act 2004

Corporate law economic reform program act 2004 (CLERP) is a law that was passed in Australia in 2004. It was designed to improve the way businesses operated in Australia by making it easier for businesses to raise money, set up their businesses and make sure their companies are run in an ethical and responsible way. It also aimed to make Australia more attractive to foreign investors. This was important because foreign investors can bring money, jobs and skills to Australia. To do this, CLERP changed many different laws and regulations. For example, it made it easier for companies to raise money from investors by allowing companies to make their own rules about how much money could be raised and when. It also made sure companies were being honest about their finances and activities by increasing the powers of Australia's corporate regulator. CLERP also made sure companies were following ethical and responsible practices, like providing fair pay and following good environmental practices. All these things combined made it easier for business to invest in Australia, which helps the economy.