On 29 November 2009 the Council of Australian Governments (COAG) agreed to progress the reforms contained in the National Partnership Agreement to deliver a Seamless National Economy (SNENP). One of the 27 deregulation priorities involves reform to directors' liability for corporate fault.
The project aims to harmonise the imposition of personal criminal liability for corporate fault across Australian jurisdictions. This project came about because of growing concern over a trend in regulatory legislation across Australia to hold company officers criminally liable when their company breaches a statutory requirement (derivative liability).
On 1 June 2012, the Parliamentary Secretary to the Treasurer, The Hon Bernie Ripoll MP, announced the release of the second tranche exposure draft of the Personal Liability for Corporate Fault Reform Bill 2012. This Bill covers amendments to non-Treasury portfolio legislation pursuant the COAG reforms, and follows on from the 27 January 2012 announcement by the former Parliamentary Secretary to the Treasurer, The Hon David Bradbury MP, of the release of an exposure draft for the first tranche of proposed amendments, which covered Treasury portfolio non-tax legislation.
For technical enquiries regarding legislation amended by the Bill, please contact the relevant area below:
- Department of Innovation (National Measurements Act) – Richard Brittain – (02) 8467 3645
- Department of Innovation (Tertiary Education) – Jan Rees – (02) 6121 5684
- Department of Health and Aging – Marlene Hall – (02) 6289 1524
- Department of Veterans’ Affairs – Nick Young – (03) 9284 6304
- Department of Families, Housing, Community Services and Indigenous Affairs (Classification (Publications, Films and Computer Games)) – Margaret-Ann Henderson – (02) 6146 3600
- Office of the Registrar of Indigenous Corporations – Michael Cullen – (02) 6146 4736