[Corporation] A legal entity created by charter, prescription, or legislation. The fundamental difference between a corporation and other business entities is that the law treats a corporation as a separate legal person: (CTH) Corporations Act 2001 s 124.
For the purposes of the (CTH) Corporations Act 2001, corporation’ includes a company, a body corporate, and certain unincorporated bodies, but specifically excludes corporations sole and exempt public authorities: ss 9, 57A.
An unincorporated body may qualify as a corporation if it possesses certain corporate powers such as the power to hold property: s 57A(1)(c).
(Encyclopaedic Australian Legal Dictionary, 2011)