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Under Corporations legislation in Australia, a company is invested with a distinct legal personality, which is separate from its' owners, shareholders and directors. Required: Discuss

Under Corporations legislation in Australia, a company is invested with a distinct legal personality, which is separate from its' owners, shareholders and directors.

Required:

Discuss what this statement means and its implications, with reference to the main legal consequences of the corporation as a separate legal entity under both common law and the Corporations Act 2001 (Cth).

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