Corporations laws a ‘tangled mess’ costing business too much: report

Australia’s corporations laws are a tangled mess, difficult to navigate, costly to comply with, difficult to enforce and need an overhaul that could take up to a decade, a report tabled in parliament showed on Thursday.

The Australian Law Reform Commission’s final report into corporations and financial services laws was scathing, reflecting judicial commentary that the current laws are like “porridge”, “tortuous”, treacherous”, and “labyrinthine”.