Explanatory Memorandum(Circulated by the authority of the Parliamentary Secretary to the Treasurer, the Hon David Bradbury MP)
Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Corporations Amendment (Phoenixing and Other Measures) Bill 2012
This Bill is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011 .
Overview of the Bill
The Bill amends the Corporations Act 2001 (Corporations Act) to: introduce an administrative process for compulsory external administration to facilitate payment of employee entitlements and address phoenix company activity; include a regulation making power to prescribe methods of publication of notices relating to events before, during and after the external administration of a company; and to make other miscellaneous, minor and technical amendments
Human rights implications
The Bill does not engage any of the applicable rights or freedoms.
The Bill is compatible with human rights as it does not raise any human rights issues.