What does constitutionally covered business mean?

constitutionally covered business

A constitutionally covered business can be a company like a Pty Ltd or a foreign corporation, or any business mainly involved in trading or financial activities within the Commonwealth and its territories.

These are businesses that operate under the constitutional laws of Australia. They include various types of corporations and government bodies but exclude sole traders, partnerships, and non-trading or financial corporations. Understanding this classification is important for knowing which laws and regulations apply to a business.

Explore more terms

Whether you're looking for definitions of other related terms or just browsing, our full list offers a wealth of information at your fingertips.

Back to Glossary

Other glossary terms

fixed term contract



A fixed-term contract is an employment agreement that ends after a specific period. This could be on a certain date or after a specific time frame.

employment contract



An employment contract is an arrangement between an employee and their employer that outlines their work terms. It can be a written or verbal agreement.

time in lieu



An arrangement where an employee is given paid time off work instead of being paid overtime hours allowed under some awards and registered agreements.

liquidation



Liquidation is the formal process where a liquidator is appointed to wind up the affairs of a company. This involves taking control of a company's assets.