ALRC Commissioner and federal court judge Justice Hon. John Middleton.
Australian Law Reform Commissioner and federal court judge Hon. Justice John Middleton has confirmed the ALRC will look at pulling chapter seven of the Corporations Act – which deals with financial products and services – out of the Act altogether as part of the group’s ongoing review into financial services regulation.
After an ALRC webinar presentation that outlined some of the complexities within the Corporations Act, Middleton was asked by ALRC president and fellow federal judge Justice Hon. Sarah Dennington whether chapter seven might be better “as a standalone statute”.
“It’s certainly something that’s on the table for consideration,” Middleton said, before adding that doing so “wasn’t an automatic cure, necessarily,” to the complexity issues that plague the Act.