Briefly explain the purpose of companies act?

 

Question: Briefly explain the purpose of companies act?

The Companies Act is a piece of legislation that governs the formation, operation, and dissolution of companies in a particular country or jurisdiction. The main purpose of the Companies Act is to provide a legal framework that ensures companies operate in a transparent and accountable manner, and that protects the interests of all stakeholders, including shareholders, employees, customers, and the wider community. The Act sets out the rights and responsibilities of companies, their directors, and shareholders, and includes provisions for financial reporting, shareholder meetings, and the resolution of disputes.

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