What laws/acts/gov bodies do we need to remember? (1 Viewer)

[Nebth3master]

So far ik we need to remember:

• WHS Act 2011 - protects employees
• Fair Work act 2009 - protects employee rights
• Fair work commission - helps employees in unfair dismissals, dispute resolution (also helps employers in handling these?)
• Fair work ombudsman (no legal power, only advice)
• Australian competition and consumer commission (protects consumers from unfavorable and unethical business practices)
• Australian stock exchange (stocks)
• Australian prudential regulation authority (?)
• Reserve bank of Australia (determine interest rates)
• Australian securities and investments commission (?)

Ye that's all I remember, if there are any others I forgot pls lmk, thx

 

[jimmysmith560]

You pretty much remember all the most important legislation and government bodies. You may also wish to consider the following legislation:

• The Sex Discrimination Act 1984
• The Affirmative Action (Equal Employment Opportunity for Women) Act 1986
• The Corporations Act 2001

The purpose of the Sex Discrimination Act 1984 and the Affirmative Action (Equal Employment Opportunity for Women) Act 1986 is self-explanatory.

Just to expand on the Work Health and Safety Act 2011, its purpose is to secure the health and safety of employees and workplaces by eliminating/minimising risks in order to provide workers and other individuals with the highest level of protection from hazards and risks.

You should ensure that you are able to distinguish between the Fair Work Act 2009, the Fair Work Commission and the Fair Work Ombudsman. In addition to the information that you already have, the Fair Work Commission administers the Fair Work Act 2009.

The Australian Prudential Regulation Authority is responsible for overseeing institutions such as banks, credit unions, building societies, insurance companies as well as members of the superannuation industry.

The Australian Securities and Investments Commission administers and enforces the Corporations Act 2001. Essentially, ASIC assists in minimising fraud and unfair practices and ensures that companies adhere to the law, collects information about companies and makes it available to the public. Such information includes the financial information that companies must disclose in their annual reports.

I hope this helps!