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ARTICLE · 25 OCTOBER 2024

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New cyber security legislative package – how will it impact organisations?

Holding Redlich
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Commonwealth government has released another package of proposed legislation to tackle cyber security issues.

AustraliaTechnology
Dan Pearce
Dan Pearce
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[Article updated November 2024]

Cyber Security Act passed into law

The Cyber Security Act and related bills have been passed by the Parliament, following review by the Parliamentary Joint Committee on Intelligence and Security. That Committee recommended a number of relatively minor changes, and with effect from six months after royal assent, once formal approval is granted by the Governor General, most businesses will be required to report ransomware payments.

The information that now must be provided to the Australian Signals Directorate (ASD), or that may be voluntarily provided to the National Cyber Security Coordinator under a parallel voluntary scheme, can only be utilised for certain purposes. However, any such notification does not mean that the organisation is completely free of legal obligations. Any decision to pay a ransom should also consider the broader legal requirements.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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