2010-2011-2012

The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

As passed by both Houses

Personal Liability for Corporate Fault Reform Bill 2012

No.      , 2012

A Bill for an Act to amend the law relating to personal liability for offences committed by corporations, and for related purposes

Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedule(s)......................................................................................... 2

Schedule 1—Corporations Act 2001                                                                           3

Schedule 2—Foreign Acquisitions and Takeovers Act 1975                        8

Part 1—Main amendments                                                                                          8

Part 2—Signalling personal liability                                                                        9

Part 3—Signalling personal liability: further amendments                        10

Schedule 3—Health Insurance Act 1973                                                                 11

Part 1—Main amendments                                                                                        11

Part 2—Signalling personal liability                                                                      12

Part 3—Other amendments                                                                                       13

Schedule 4—National Vocational Education and Training Regulator Act 2011                 14

Part 1—Main amendments                                                                                        14

Part 2—Signalling personal liability                                                                      16

Part 3—Other amendments                                                                                       17

Schedule 5—Therapeutic Goods Act 1989                                                            18

Part 1—Main amendments                                                                                        18

Part 2—Signalling personal liability                                                                      21

Part 3—Signalling personal liability: further amendments                        24

Part 4—Other amendments                                                                                       26

Schedule 6—Other Acts amended                                                                              27

Child Support (Registration and Collection) Act 1988                                      27

Classification (Publications, Films and Computer Games) Act 1995              27

Corporations (Aboriginal and Torres Strait Islander) Act 2006                      29

Income Tax Assessment Act 1936                                                                             31

Insurance Contracts Act 1984                                                                                 31

National Measurement Act 1960                                                                             33

Pooled Development Funds Act 1992                                                                    33

Superannuation Guarantee (Administration) Act 1992                                     33

Taxation Administration Act 1953                                                                          34

Veterans’ Entitlements Act 1986                                                                             34

Schedule 7—Application of amendments                                                               36

A Bill for an Act to amend the law relating to personal liability for offences committed by corporations, and for related purposes

The Parliament of Australia enacts: