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Call for Submissions

Submissions closed on Friday, 18 January 2013.

Objective of the Bill

The objectives of the Bill are to:

• reduce the number of provisions which impose personal and criminal liability on executive officers for corporate fault and only provide for this liability where there is adequate justification;
• reduce red tape and the regulatory burden placed upon Queensland business; and

• achieve greater consistency of approach to the liability of executive officers of corporations with other Australian jurisdictions.

Other Information

The Directors’ Liability Reform Amendment Bill 2012 and the Explanatory Notes are available from the Office of the Queensland Parliamentary Counsel at www.legislation.qld.gov.au.  

The Hansard transcript of the explanatory speech for the Bill can be found here.

Reasons for the Bill

The reasons for the Bill appear on pages 1-4 of the Explanatory Notes which can be viewed here.

Referral

On 28 November 2012, the Attorney-General and Minister for Justice, the Hon Jarrod Bleijie MP, introduced the Directors’ Liability Reform Amendment Bill 2012 into the Queensland Parliament.

In accordance with Standing Order 131 of the Standing Rules and Orders of the Legislative Assembly, the Bill was referred to the Legal Affairs and Community Safety Committee (the Committee) for detailed consideration. 

By resolution of the Committee of the Legislative Assembly, the Committee was required to report to the Parliament by 15 March 2013.

Report

On 15 March 2013, the Committee tabled its Report No. 25, Directors' Liability Reform Amendment Bill 2012. A copy of the report is available here or can be accessed at Related Publications.

The Government tabled its response to the Committee's report on 17 June 2013. A copy of the Government Response is available here or can be accessed at Related Publications.

The Directors’ Liability Reform Amendment Bill 2012 was passed, with amendment, by the Legislative Assembly on 16 October 2013.