Do you mean to say you are preparing to make a submission in the High Court? They don't "amend" powers in the Constitution, other than by re-interpreting them. Do you mean you will be asking them to re-interpret the corporations power down so as to restrict legal personality?

For my money, incorporation started out, and subsists, as privileges granted by the state. There is no reason why anyone should have these privileges. If they were abolished, it just means that business would be done through partnerships and joint stock companies, who would stand or fall on their own merits, which is as it should be.

But government should neither be granting limited liability on the one hand, nor dictating terms of business, such as capital limits, on the other. How would government know what the appropriate limits are? They wouldn't have the faintest idea. The remedy for dysfunctional governmental meddling is not more meddling, it's less.

During and after the Civil War there was a rapid increase in the number and size of corporations, and this form of business was starting to become a more important way of holding and protecting property and power.

President Abraham Lincoln wrote.
"We may congratulate ourselves that this cruel war is nearing its end. It has cost a vast amount of treasure and blood. . . .

It has indeed been a trying hour for the Republic; but I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavour to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war.
God grant that my suspicions may prove groundless."

The passage appears in a letter from Lincoln to (Col.) William F. Elkins, Nov. 21, 1864