Date posted: 6/02/2020 2 min read

Submission on Corporate Criminal Responsibility Discussion Paper 87

CPA Australia and Chartered Accountants ANZ make joint submission to The Australian Law Reform Commission.

Together representing the major accounting bodies in Australia, CPA Australia and Chartered Accountants ANZ made a joint submission to The Australian Law Reform Commission on Chapter 11 Illegal Phoenix Activity of the Corporate Criminal Responsibility Discussion Paper 87 (the Discussion paper) on 6 February 2020.

In the submission we provided comments on improving enforcement provisions in the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019, the establishment of a 'director identification number' register under The Corporations Act 2001 (Cth) as well as express statutory power to disqualify insolvency and restructuring advisors who are found to have contravened the proposed creditor-defeating disposition provisions.

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