The Treasurer has released a discussion paper reviewing civil and criminal sanctions in the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001 (corporate law).

One of the issues examined in the paper is whether the expanded use
of civil sanctions in corporate law would provide additional options in
deterring bad corporate behaviour.

The paper also examines whether higher penalty amounts for civil
breaches would better protect consumers and reflect community
expectations.

The Treasurer also released a separate paper,
seeking comments on the use and effectiveness of infringement notices
issued by the Australian Securities and Investments Commission for breaches of the continuous disclosure provisions in
preparation for the Government’s review of the notices.

Comments on both papers are invited by 1 June 2007.