{"links":{"self":"http://dataportal.arc.gov.au/NCGP/API/grants/FT250100438"},"data":{"type":"grant-details","id":"FT250100438","attributes":{"code":"FT250100438","administering-organisation":"The University of Melbourne","announcement-administering-organisation":"The University of Melbourne","scheme-name":"ARC Future Fellowships","grant-status":"Active","funding-commencement-year":2025,"years-funded":4,"project-start-date":"2026-01-12","anticipated-end-date":"2030-01-11","grant-summary":"Purpose beyond Profit: Modernising Corporations Law. In light of societal expectations that corporations take account of important social, environmental and cultural concerns, this project aims to make recommendations to enable corporations to pursue purposes beyond profit and to clarify the scope of directors’ duties in relation to these concerns. This will fill a significant gap in Australian legal scholarship. Key expected outcomes include empowering corporations to pursue public benefit purposes and reducing complexity and uncertainty for companies and directors. This is expected to provide significant benefits in enabling commercial activity that responds to societal expectations in relation to sustainability, climate change, biodiversity and human rights, as well as commercial benefits.","funding-current":1245753.00,"funding-at-announcement":1219808,"investigators-current":[{"title":"Prof","firstName":"Rosemary","familyName":"Langford","roleName":"Future Fellowship","roleCode":"FT","isFellowship":true,"orcidIdentifier":"0000-0001-5304-3416 "}],"investigators-at-announcement":[{"title":"Prof","firstName":"Rosemary","familyName":"Langford","roleName":"Future Fellowship","roleCode":"FT","isFellowship":true,"orcidIdentifier":"0000-0001-5304-3416 "}],"organisations-current":[{"organisationName":"The University of Melbourne","roleName":"Administering Organisation","state":"VIC"}],"organisations-at-announcement":[{"organisationName":"The University of Melbourne","roleName":"Administering Organisation","state":"VIC"}],"field-of-research":[{"isPrimary":true,"code":"4801","name":"Commercial Law","type":"FOR20"},{"isPrimary":false,"code":"480103","name":"Corporations and Associations Law","type":"FOR20"},{"isPrimary":false,"code":"480105","name":"Not-For-Profit Law","type":"FOR20"},{"isPrimary":false,"code":"480302","name":"Comparative Law","type":"FOR20"}],"socio-economic-objective":[{"code":"190205","name":"Environmental Protection Frameworks (Incl. Economic Incentives)","type":"SEO20"},{"code":"239999","name":"Other Law, Politics and Community Services Not Elsewhere Classified","type":"SEO20"},{"code":"280117","name":"Expanding Knowledge In Law and Legal Studies","type":"SEO20"}],"international-collaboration":["Canada","England","France","Germany","Italy","Singapore","United States of America"],"lief-register":[],"achievement-summary":null,"national-interest-test-statement":"Corporations exercise significant power and play a critical role in the economy. In the past the principal purpose of corporations was thought to be the pursuit of profit. However, society now expects corporations and their directors to consider important social, cultural and environmental concerns (such as sustainability, climate change, biodiversity and human rights) rather than focusing exclusively on the pursuit of profit. It is, however, difficult for Australian companies and their directors to do this because Australian corporate law is not fit-for-purpose. High profile international reports have suggested corporations be enabled to adopt formal purposes other than, or in addition to, profit as a solution. But there is no compelling way to do this in Australia due to unique features of our law. This project will make recommendations to modernise key aspects of corporate law to enable companies and their directors to pursue broader purposes. This will bring significant social, environmental and cultural benefits in enabling pursuit of public benefit purposes and encouraging commercial innovation and activity that achieves social, environmental and cultural purposes. It will also bring commercial and economic benefits in reducing complexity. Research outcomes will be broadly disseminated via networks of sector, industry and community bodies and committees, as well as by influential experts associated with the project."}}}