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📜 Directors' Liability Reform Bill 2022

Assented toLABill 8926 October 2022

The Directors’ Liability Reform Bill 2022 aims to standardise and reduce the number of offences where directors can be held criminally liable for their company's actions, specifically when they fail to take reasonable steps to prevent those actions. It amends The Criminal Code and various other Acts.

Impact

Directors and officers of bodies corporate will be affected by the changes to liability for corporate offences. The bill aims to create more consistent standards across different Acts, potentially impacting how businesses operate and ensure compliance.

Key Changes

["Inserts a new Chapter 6 into Part I of The Criminal Code regarding officer liability.", "Standardises provisions for determining officer liability for corporate offences.", "Shifts or clarifies the onus of proof regarding 'reasonable steps' taken by officers to prevent offences."]

Parliamentary Progress

  1. LA IntroducedLA26 Oct 2022
  2. LA Second Reading MovedLA26 Oct 2022
  3. LA Second Reading AgreedLA22 Nov 2022
  4. LA Consideration in DetailLA22 Nov 2022
  5. LA AmendedLA22 Nov 2022
  6. LA Third ReadingLA23 Nov 2022
  7. LC Second Reading MovedLC14 Feb 2023
  8. LC Second Reading AgreedLC21 Feb 2023
  9. LC Third ReadingLC16 Mar 2023
  10. LC AmendedLC28 Mar 2023
  11. LC Consideration in DetailLC28 Mar 2023
  12. Royal Assent4 Apr 2023
Affected Sectors
agricultureconstructionenvironmentfinanceindigenousminingpublic_sectorresourcesother

Penalty Provisions1 found

criminal
43Criminalboth

Criminal liability of officers of bodies corporate

“43. Penalties”

View on Parliament website →Bill PDFEM PDF

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