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Gene Tilbrook says Australia’s insolvency laws are widely viewed as among the harshest in the world.

More protection for company directors

Safe-harbour reforms that deliver greater protection for directors of financially stressed companies have passed through both houses of federal parliament.

The passage of the legislation has been widely applauded, with supporters saying they have the potential to change the culture of Australian business.

The Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 will create a regime that allows company directors to take reasonable steps to restructure their company.

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