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#auslaw clashes on permanent continuous disclosure changes
By Jerome Doraisamy|17 February 2021
Josh Frydenberg’s move to “discourage opportunistic class actions” is receiving mixed reactions from law firms nationwide.
On Wednesday, 17 February, Treasurer Josh Frydenberg announced the federal government’s intention to make permanent the temporary changes to Australia’s continuous disclosure laws – brought in last year in the wake of COVID-19, and which are due to expire in March.
The Treasury Laws Amendment (2021 Measures No. 1) Bill will seek to amend the
Corporations Act 2001, he said, so that companies and their officers will only be liable for civil penalty proceedings in respect of continuous disclosure obligations where they have acted with “knowledge, recklessness or negligence”. ....

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