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The purpose of this text is to provide a teaching/ learning tool within a semester corporations law unit. The use of a plain English writing style, combined with fuller case extracts makes corporations law more accessible to those who study or practise in the area of corporations law.

Since the publication of the third edition there have been significant changes in corporations law. From a legislative perspective, important changes have been effected in regard to the law pertaining to dividends, corporate securities, executive officers and directors (in particular their remuneration and financial reporting).

Judicially, this period has been marked by a considerable number of important cases pertaining to directors' liability arising out of, inter alia, high profile cases, including the James Hardie cases. These cases have provided guidance as to the applicability of both statutory and equitable directors' duties, but the penalties flowing from breaches of such duties.

The coverage of the chapters is broad and as well reflecting the content of most courses in Australia, will be a useful reference in any practitioner's library.