The subject of sanctions and remedies against corporate officers for breaches of the
provisions in the Corporations Law is an area of the law which has been largely
neglected by the legislature. Although there have been several legislative reforms on
remedies since the Corporations Law came into force, those reforms were ad hoc in
nature and no attempt has been made to carry out a comprehensive review to assess the
effectiveness of the existing sanctions and remedies in context of the needs of
contemporary society. In consequence, there is increasing concern that the remedies
employed in Australia for breaches of the Corporations Law are inadequate, inconsistent,
out-dated and are confined within a narrow range.
This thesis seeks to evaluate the current package of sanctions and remedies provided
under Part 3.2 of the Corporations Law. As part of this exercise, comparative studies
are made with the remedies of other jurisdictions. The provisions for sanctions in Part
3.2 are measured against parallel provisions in the Crimes Act of the Commonwealth and
of New South Wales and Victoria. They are also measured against corresponding
provisions in selected foreign jurisdictions. A further comparison is made between the
traditional civil remedies under the common law and those in the Corporations Law.
The evaluation of the sanctioning regime in Part 3.2 is made against the criteria
appropriateness, adequacy, consistency and accessibility. This thesis discusses the need
for a complete re-assessment of the penalty structure to bring the remedies in line with
community expectations.
| Identifer | oai:union.ndltd.org:ADTP/218607 |
| Date | January 1994 |
| Creators | Lee, Foong Mee, n/a |
| Publisher | University of Canberra. Law |
| Source Sets | Australiasian Digital Theses Program |
| Language | English |
| Detected Language | English |
| Rights | ), Copyright Foong Mee Lee |
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