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Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017

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8239

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017

 

 

 ( 1 )    Schedule  1 , page 8 (after line 12) , after item  3 , insert:

3A  At the end of Division 3 of Part 5.7B

Add:

588HA   Review relating to safe harbour

             (1)  The Minister must cause an independent review of the following matters to be undertaken as soon as practicable after the last day of the 2 year period commencing on the commencement of this section:

                     (a)  the impact of the availability of the safe harbour to directors of companies on:

                              (i)  the conduct of directors; and

                             (ii)  the interests of creditors and employees of those companies;

                     (b)  any other matters the Minister considers relevant.

             (2)  The review must be undertaken by 3 persons who, in the Minister’s opinion, possess appropriate qualifications to undertake the review.

             (3)  The persons who undertake the review must give the Minister a writt en report of the review.

             (4)  The Minister must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the day on which the report is given to the Minister.

             (5)  The report is not a legislative instrument .

[review]