Commerce Minister Foss eases back on criminalising directors in late legislative tweak

Wed, 05 Jun 2013

By Paul McBeth June 5 (BusinessDesk) - Commerce Minister Craig Foss has softened his legislative plans to impose greater criminal sanctions on directors for failing in their duties with a late tweak to the Companies and Limited Partnerships Amendment Bill. The minister today tabled a Supplementary Order Paper in Parliament amending planned legislation that would have made it a criminal offence for a director to let a business be managed in a way that created a substantial risk of a serious loss to its creditors. The changes mean directors...

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