Submission: ALRC corporate criminal discussion paper
ARITA has made a submission in response to issues concerning illegal phoenix activity raised in the ALRC’s Discussion Paper 87 on Corporate Criminal Responsibility
Our previous update outlined the issues raised in the Discussion Paper and, following ARITA’s submission to the ALRC on the terms of reference for this inquiry, the inclusion of illegal phoenix activity as part of the review.
ARITA’s submission highlighted the following nine points as matters which were relevant factors in addressing illegal phoenix activity:
1. Simplification of existing offences concerning books and records and ROCAP
2. The Creditor-Defeating Disposition (anti-phoenixing) offence
3. Proper enforcement action against directors and pre-insolvency advisors
4. Deterrent penalties
5. Director Identification Numbers
6. Free access to business data on ASIC registers
7. Plain English education for community and directors on insolvency and financial distress
8. Use of technology and social media to support community education
9. Licensing requirements for pre-insolvency advisers
The submission also detailed ARITA’s responses to the Proposals and Questions contained in the Discussion Paper.
Read the submission