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CLERP (Audit Reform and Corporate Disclosure) Bill 2003 Draft Due Diligence Defence for Consultation

Date:

Tuesday, 18 May 2004

Content ID:

831

Abstract:

Subsections 674(2A) and 675(2A) of the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Bill 2003 provide for civil penalties to be imposed on individuals involved in a contravention by a disclosing entity of the continuous disclosure provisions.

During the debate on the Bill in the House of Representatives, the Treasurer indicated that the Government intended moving in the Senate an amendment to introduce a 'due diligence' defence to subsections 674(2A) and 675(2A) modelled on a similar defence applying in relation to the prospectus provisions of the Corporations Act 2001.

Submission closing date: Monday 31 May 2004

Address written submissions to:

Ruth Smith
Manager
Market Integrity Unit
Department of Treasury
Langton Crescent
PARKES ACT 2600

Fax to (02) 6263 2882

Email: rsmith@treasury.gov.au

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

CLERP (Audit Reform and Corporate Disclosure) Bill 2003 Consultation - Attachment  14.08kb

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CLERP (Audit Reform and Corporate Disclosure) Bill 2003 Consultation - Attachment  1.33kb

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