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ARTICLE · 20 AUGUST 2004

Insolvency Perspective on CLERP 9

Clayton Utz
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CLERP 9's provisions on officers, senior managers and employees are particularly relevant to insolvency practitioners and others involved management of corporations

AustraliaInsolvency/Bankruptcy/Re-Structuring
Ron Schaffer
Ron Schaffer
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Key Point

  • CLERP 9's provisions on officers, senior managers and employees are particularly relevant to insolvency practitioners and others involved management of corporations

The Corporate Law Economic Reform Program (Audit Reform And Corporate Disclosure) Act 2004 ("CLERP 9") was assented on 30 June 2004 and commenced on 1 July 2004. According to Mr Costello, CLERP 9 is designed to modernise business regulation and foster a healthy and vibrant economy.

Amendments to the Corporations Act 2001 contained in Schedule 9 to the CLERP 9 entitled "Officers, Senior Managers and Employees" are particularly relevant to insolvency practitioners and others involved management of corporations.

Officers, senior managers and employees

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