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On 18 September 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No.2)Act 2017 was enacted which reforms Australia's insolvency laws (https://www.legislation.gov.au/Details/C2017A00112) (the Amendment). Part 1
On 18 September 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No.2)Act 2017 was enacted which reforms Australia's insolvency laws (https://www.legislation.gov.au/Details/C2017A00112) (the "Amendment"). Part 1 of the Act amended the Corporations Act 2001 to create a 'safe harbour' for company directors from personal liability for insolvent trading if the company is undertaking a restructure in certain circumstances. According to the Minister, the legislation is intended to "drive cultural change amongst company directors by encouraging them to engage early with financial hardship, keep control of their company and take reasonable risks to facilitate the company's recovery instead of placing the company prematurely into voluntary administration or liquidation". It is also intended to "promote a culture of entrepreneurship and innovation and help reduce the stigma associated with business failure. ... help[ing] drive business growth, local jobs and global success." Your assignment is to: 1. explain how Part 1 of the Amendment differs from the previous law on insolvent trading; and 2. critically analyse the effectiveness of Part 1 of the Amendment; and 3. recommend whether: a) the current law should be maintained; or b) the previous law should be reenacted; or c) other amendments should be made. Could someone please give me some research route about this assignment Thanks a lot
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