On 27 January 2012 the proposed amendments to directors' liability laws were released. This forms the first part of the Council of Australian Governments' (COAG) Directors' Liability reform project. The project aims to integrate the approach to the imposition of laws concerning personal criminal liability for corporate fault across the Australian jurisdictions.
The Commonwealth has assessed its laws against these principles and the Personal Liability for Corporate Fault Reform Bill 2012 proposes amendments accordingly. The Bill is available on the Treasury's website and submissions may be made until 30 March 2012.