Queensland to slash directors’ liability
Queensland will cut back on its “draconian” directors’ liability laws, Premier Campbell Newman says.
Directors face “onerous” obligations under the state’s 3800 liability offence provisions, he told a small business summit last Wednesday.
The Directors’ Liability Reform Amendment Bill, introduced in November, will cut the number of offences to 260.
Mr Newman says the Government fears current laws lead directors to be overly cautious, to avoid personal liability.
He also wants to change the reverse burden of proof, under which directors are guilty until proven innocent.
The move to align Queensland with other states follows calls from the business and legal communities.