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Australia Becomes a Penal Colony
Australia was founded by the English as a place to house the overpopulated convicts. This is where Australia Day originates from -
Gold Rush Begins
The discovery of gold in 1851 changed the direction of the Australian economy. The discovery led to increased immigration, which put a burden on the gold supply. This in turn led to the resumption of wool as the principal provider of economic growth by 1860. Actual estimates of populations of the time indicate that the population of 400,000 at the start of the decade increased to 1,000,000 by 1860 -
Australian Stock Exchange opened
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Enactment of Company Legislation
This was based on the companies act of England -
Company Act of Queensland
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Company Act of South Australia
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Company Act of Victoria
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Companies Act Tasmania
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Mining Companies Act Victoria
Introduced the no liability company as an option for mining ventures. Formalised the practice of forfeiture of partly paid shares upon failure to pay calls for mining companies, the substance of which is still operative today under the Corporations Act 2001 (Cth) -
Australian Banking Crisis
the Federal Bank collapses; many financial institutions, including several major ones, suspend trading -
Companies Act Victoria
Distinguished between public companies and proprietary companies and required, in respect of public companies, compulsory audit and annual presentation of accounts -
Huddart, Parker & Co Pty Ltd v Moorehead
Narrowing of s 51(xx) of the Constitution. Federal power in respect to corporations limited to foreign corporations and trading and financial corporations created by State legislation. (CLR available from Thomson LegalOnline) -
Uniforms Act
Between 1960-1962 All States brought in the Uniform Act