आंशिक रूपमा सत्य

रेटिङ: 6.5/10

समस्या रिपोर्ट गर्नुहोस्
Coalition
C0155

दाबी

“महामारीको समयमा कर्पोरेट वित्तीय खुलासा नियमहरू खुकुलो बनाइयो, जसले लगानीकर्ताहरूलाई बजारमा महत्त्वपूर्ण जानकारीको अभाव मार्फत गुमराह गर्ने कम्पनीहरू विरुद्ध सामूहिक मुद्दा दायर गर्नबाट रोक्यो।”
कोभिड अर्थतन्त्र
मूल स्रोत: Matthew Davis
विश्लेषण गरिएको: 29 Jan 2026

मूल स्रोतहरू

✅ तथ्य जाँच

मुख्य mukhya दाबी dābī **ठूलो **ṭhūlo हदसम्म hadasamma सही** sahī** छ, cha, तर tara नियमहरूको niyamaharūko दायरा dāyarā र ra यान्त्रिकतासम्बन्धी yāntrikatāsambandhī महत्त्वपूर्ण mahattvapūrṇa योग्यता yogyatā आवश्यक āvaśyaka छ। cha|
The core claim is **substantially accurate**, but requires significant qualification regarding the scope and mechanics of the rule changes.
 ### ### घटनाको ghaṭanāko समयरेखा samayarekhā
### Timeline of Events
 Coalition Coalition सरकारले sarakārale COVID-19 COVID-19 प्रतिक्रियामा pratikriyāmā **Corporations **Corporations (Coronavirus (Coronavirus Economic Economic Response) Response) Determination Determination (No. (No. 2) 2) 2020** 2020** मार्फत mārphata कर्पोरेट karporeṭa वित्तीय vittīya खुलासा khulāsā मापदण्डहरू māpadaṇḍaharū औपचारिक aupacārika रूपमा rūpamā खुकुलो khukulo बनायो, banāyo, जुन juna **२६ **26 मे me २०२०** 2020** मा mā लागू lāgū भयो bhayo [1][2]। [1][2]| अस्थायी asthāyī राहत rāhata सुरुमा surumā ६ 6 महिनाको mahināko लागि lāgi सेट seṭa गरिएको garieko थियो thiyo तर tara पछि pachi **२३ **23 मार्च mārca २०२१** 2021** सम्म samma (कुल (kula अवधि: avadhi: १० 10 महिना) mahinā) थपियो thapiyo [3]। [3]| मुख्य mukhya परिवर्तनले parivartanale Corporations Corporations Act Act को ko सेक्सन seksana ६७४, 674, ६७५, 675, र ra ६७७ 677 मा mā निरन्तर nirantara खुलासा khulāsā मापदण्डलाई māpadaṇḍalāī **वस्तुनिष्ठ **vastuniṣṭha परीक्षणबाट parīkṣaṇabāṭa व्यक्तिगत vyaktigata परीक्षणमा** parīkṣaṇamā** परिवर्तन parivartana गर्यो garyo [1]। [1]| विशेष viśeṣa गरी: garī: - - **अघिल्लो:** **aghillo:** जानकारी jānakārī खुलासा khulāsā गर्नुपर्छ garnuparcha यदि yadi "उचित "ucita व्यक्ति" vyakti" ले le यसले yasale कम्पनीको kampanīko प्रतिभूतिहरूको pratibhūtiharūko मूल्यमा mūlyamā भौतिक bhautika प्रभाव prabhāva पार्ने pārne अपेक्षा apekṣā गर्नेछ garnecha (वस्तुनिष्ठ (vastuniṣṭha परीक्षण) parīkṣaṇa) - - **पछिल्लो:** **pachillo:** जानकारी jānakārī खुलासा khulāsā गर्नुपर्छ garnuparcha मात्र mātra यदि yadi इकाइले ikāile यसले yasale भौतिक bhautika प्रभाव prabhāva पार्नेछ pārnecha भन्ने bhanne थाहा thāhā वा vā लापरवाह lāparavāha वा vā लापरवाही lāparavāhī गर्छ garcha (दोष (doṣa प्रमाणित pramāṇita गर्नुपर्ने garnuparne व्यक्तिगत vyaktigata परीक्षण) parīkṣaṇa) [2][4] [2][4] यो yo परिवर्तन parivartana प्रशासनिक praśāsanika समयसीमा samayasīmā विस्तार vistāra मात्र mātra थिएन, thiena, दायित्व dāyitva मापदण्डमा māpadaṇḍamā महत्त्वपूर्ण mahattvapūrṇa संशोधन saṃśodhana थियो। thiyo|
The Coalition government did formally loosen corporate financial disclosure standards in response to COVID-19 through the **Corporations (Coronavirus Economic Response) Determination (No. 2) 2020**, which came into effect on **26 May 2020** [1][2].
 ### ### स्थायी sthāyī कार्यान्वयन kāryānvayana
The temporary relief was initially set to expire after 6 months but was subsequently extended through to **23 March 2021** (total duration: 10 months) [3].
 महत्त्वपूर्ण mahattvapūrṇa रूपमा, rūpamā, यी yī अस्थायी asthāyī राहत rāhata उपायहरू upāyaharū **Treasury **Treasury Laws Laws Amendment Amendment (2021 (2021 Measures Measures No. No. 1) 1) Act Act 2021** 2021** मार्फत mārphata **स्थायी **sthāyī कानून** kānūna** बनाइयो, banāiyo, जुन juna **१३ **13 अगस्ट agasṭa २०२१** 2021** मा mā संसदबाट saṃsadabāṭa पारित pārita भयो bhayo [5][6]। [5][6]| स्थायी sthāyī संशोधनले saṃśodhanale विशेष viśeṣa रूपमा rūpamā निजी nijī वादीहरू vādīharū (सामूहिक (sāmūhika मुद्दाहरू) muddāharū) का kā लागि lāgi Corporations Corporations Act Act को ko सेक्सन seksana ६७४A 674A मा mā दोष doṣa तत्व tatva (ज्ञान, (jñāna, लापरवाही, lāparavāhī, वा vā लापरवाही) lāparavāhī) स्पष्ट spaṣṭa रूपमा rūpamā समावेश samāveśa गर्यो garyo [6]। [6]| सरकारी sarakārī कागजातहरूले kāgajātaharūle २०२१ 2021 को ko संशोधन saṃśodhana "ASX-सूचीबद्ध "ASX-sūcībaddha कम्पनीहरू kampanīharū विरुद्ध viruddha अवसरवादी avasaravādī सामूहिक sāmūhika मुद्दाहरूको muddāharūko घटना ghaṭanā कम kama गर्ने garne उद्देश्यले" uddeśyale" भएको bhaeko स्पष्ट spaṣṭa रूपमा rūpamā उल्लेख ullekha गरेको gareko छ cha [6]। [6]|
The key modification changed the continuous disclosure standard in sections 674, 675, and 677 of the Corporations Act by shifting from an **objective test to a subjective test** [1].

हराइरहेको सन्दर्भ

### ### दाबीले dābīle यान्त्रिकतालाई yāntrikatālāī सरलीकृत saralīkṛta गरेको gareko छ cha
### The Claim Oversimplifies the Mechanism
 दाबीले dābīle नियमहरूले niyamaharūle "लगानीकर्ताहरूलाई "lagānīkartāharūlāī सामूहिक sāmūhika मुद्दा muddā दायर dāyara गर्न garna रोक्यो" rokyo" भन्छ। bhancha| यो yo गलत galata छ। cha| लगानीकर्ताहरूले lagānīkartāharūle अझै ajhai पनि pani सामूहिक sāmūhika मुद्दा muddā दायर dāyara गर्न garna सक्छन्; sakchan; परिवर्तनहरूले parivartanaharūle **अभावमा **abhāvamā आधारित ādhārita दावीहरूमा dāvīharūmā सफल saphala हुन huna कठिन kaṭhina र ra महँगो** maha~go** बनायो banāyo [7]। [7]| विशेष viśeṣa गरी: garī: - - लगानीकर्ताहरूले lagānīkartāharūle अझै ajhai पनि pani कम्पनीहरूले kampanīharūle **गलत **galata बयान** bayāna** गरेमा garemā मुद्दा muddā हाल्न hālna सक्छन्; sakchan; दोष doṣa तत्व tatva सक्रिय sakriya गलत galata प्रतिनिधित्वमा pratinidhitvamā लागू lāgū हुँदैन hu~daina [7][8] [7][8] - - लगानीकर्ताहरूले lagānīkartāharūle अझै ajhai पनि pani अभावहरू abhāvaharū बारे bāre सामूहिक sāmūhika मुद्दाहरू muddāharū दायर dāyara गर्न garna सक्छन्; sakchan; उनीहरूले unīharūle अब aba सञ्चालकहरू sañcālakaharū जानकारी jānakārī भौतिक bhautika थियो thiyo भन्नेमा bhannemā "लापरवाह "lāparavāha वा vā लापरवाही" lāparavāhī" थियो thiyo भन्ने bhanne प्रमाणित pramāṇita गर्नुपर्छ garnuparcha [6][8] [6][8] - - सञ्चालकहरूको sañcālakaharūko लापरवाही lāparavāhī प्रमाणित pramāṇita गर्न garna बोर्ड borḍa प्रक्रिया prakriyā र ra विचार-विमर्शमा vicāra-vimarśamā खोजी khojī गर्न garna आवश्यक āvaśyaka पर्छ, parcha, जसले jasale मुद्दा muddā लागत lāgata बढाउँछ baḍhāu~cha [7] [7]
The claim states the rules "prevented investors from lodging class actions." This is inaccurate.
 ### ### अभाव abhāva बनाम banāma गलत galata बयानको bayānako भेद bheda
Investors can still lodge class actions; the changes made it **harder and more expensive** to succeed in claims based on **omitted information** [7].
 कानुनी kānunī टिप्पणीकारहरूले ṭippaṇīkāraharūle अस्थायी asthāyī राहत rāhata "अप्रभावी "aprabhāvī हुने hune सम्भावना" sambhāvanā" छ cha भनेर bhanera नोट noṭa गरे gare किनभने kinabhane [7]: [7]: - - **गलत **galata बयान** bayāna** गर्ने garne कम्पनीहरूले kampanīharūle पहिले pahile नै nai कुनै kunai पनि pani दोष doṣa आवश्यकता āvaśyakatā बिना binā सेक्सन seksana १०४१H 1041H (भ्रमकारी (bhramakārī वा vā धोखाधडी dhokhādhaḍī व्यवहार) vyavahāra) अन्तर्गत antargata दायित्वको dāyitvako सामना sāmanā गरे gare - - राहतले rāhatale पूर्ण pūrṇa रूपमा rūpamā जानकारी jānakārī छुटाउने chuṭāune कम्पनीहरूलाई kampanīharūlāī मात्र mātra मद्दत maddata गर्यो, garyo, गलत galata खुलासा khulāsā गर्नेहरूलाई garneharūlāī होइन hoina - - व्यावहारिक vyāvahārika प्रभाव prabhāva राहतको rāhatako दायराभन्दा dāyarābhandā साँघुरो sā~ghuro थियो thiyo यो yo महत्त्वपूर्ण mahattvapūrṇa छ: cha: "महत्त्वपूर्ण "mahattvapūrṇa जानकारीको jānakārīko अभाव abhāva मार्फत mārphata बजारलाई bajāralāī गुमराह gumarāha गर्ने" garne" सम्बन्धी sambandhī दाबीको dābīko ढाँचा ḍhā~cā यो yo राहतले rāhatale लक्ष्य lakṣya गरेको gareko बारेमा bāremā सही sahī छ, cha, तर tara मुद्दाहलत muddāhalata रोक्ने rokne बारेमा bāremā होइन—यसले hoina—yasale त्यस्तो tyasto मुद्दाहलत muddāhalata कठिन kaṭhina बनायो, banāyo, असम्भव asambhava होइन। hoina|
Specifically: - Investors can still sue if companies made **false statements**; the fault element does not apply to active misrepresentation [7][8] - Investors can still lodge class actions about omissions; they must now prove that directors were "negligent or reckless" about whether information was material [6][8] - Proving directors' negligence about omitted information requires discovery into board processes and deliberations, increasing litigation costs [7]
 ### ### महामारीपछिको mahāmārīpachiko अवधि avadhi
### The Distinction: Omissions vs. Misstatements
 दाबीले dābīle महामारी-युगको mahāmārī-yugako खुकुलोपन khukulopana जिकिर jikira गर्छ, garcha, जुन juna सुरुको suruko मे me २०२० 2020 को ko परिवर्तनका parivartanakā लागि lāgi सही sahī छ। cha| तर, tara, स्थायी sthāyī अगस्ट agasṭa २०२१ 2021 को ko संशोधनले saṃśodhanale **सबै **sabai भविष्यका bhaviṣyakā निरन्तर nirantara खुलासा khulāsā मामिलाहरूमा māmilāharūmā अनिश्चित aniścita कालसम्म** kālasamma** लागू lāgū हुन्छ, huncha, केवल kevala महामारी-अवधिको mahāmārī-avadhiko खुलासाहरूमा khulāsāharūmā होइन hoina [5]। [5]| यसले yasale उद्देश्यित uddeśyita अस्थायी asthāyī राहतभन्दा rāhatabhandā पर para दायरा dāyarā विस्तार vistāra गर्यो, garyo, यद्यपि yadyapi यो yo विस्तार vistāra आपतकालीन āpatakālīna उपायहरूको upāyaharūko विस्तार vistāra भन्दा bhandā स्थायी sthāyī कानून kānūna मार्फत mārphata भयो। bhayo|
Legal commentators noted that the temporary relief was "likely to be ineffective" because [7]: - Companies making **false statements** already faced liability under section 1041H (misleading or deceptive conduct) without any fault requirement - The relief only helped companies that omitted information entirely, not those that made inaccurate disclosures - The practical impact was narrower than the relief's scope suggested This is critical: the claim's framing of "mislead the market through omission of important information" is accurate regarding what the relief targeted, but not about prevention of litigation—it made such litigation more difficult, not impossible.
 ### ### ASIC ASIC को ko विरोधाभासी virodhābhāsī फोकस phokasa
### Duration Beyond Pandemic
 उल्लेखनीय ullekhanīya रूपमा, rūpamā, ASIC ASIC को ko २०२० 2020 मिडिया miḍiyā विज्ञप्तिहरूले vijñaptiharūle वास्तवमा vāstavamā नियामकले niyāmakale COVID-सम्बन्धित COVID-sambandhita प्रभावहरूको prabhāvaharūko **बढी** **baḍhī** खुलासा khulāsā चाहेको cāheko देखाउँछ, dekhāu~cha, कम kama होइन hoina [9][10]। [9][10]| ASIC ASIC ले le विशेष viśeṣa रूपमा rūpamā जोड joḍa दियो diyo कि ki इकाइहरूले ikāiharūle प्रमुख pramukha रूपमा rūpamā खुलासा khulāsā गर्नुपर्छ: garnuparcha: - - प्राप्त prāpta COVID-सम्बन्धित COVID-sambandhita सहायता sahāyatā रकमहरू rakamaharū - - सरकारी sarakārī सहायता sahāyatā विवरणहरू vivaraṇaharū (JobKeeper, (JobKeeper, कर kara राहत, rāhata, ऋण ṛṇa स्थगित) sthagita) - - महामारी mahāmārī प्रभावबाट prabhāvabāṭa सम्पत्ति sampatti मूल्य mūlya प्रभाव prabhāva - - व्यवसाय vyavasāya जोखिम jokhima र ra अनिश्चितताहरू aniścitatāharū [9][10] [9][10] ASIC ASIC को ko नियामक niyāmaka फोकसले phokasale राहत rāhata चरम carama अनिश्चितताको aniścitatāko समयमा samayamā सास sāsa फेर्ने pherne ठाउँ ṭhāu~ प्रदान pradāna गर्ने garne उद्देश्यले uddeśyale भएको bhaeko सुझाव sujhāva दिन्छ, dincha, गैर-खुलासा gaira-khulāsā सजिलो sajilo बनाउने banāune होइन। hoina|
The claim references pandemic-era loosening, which is accurate for the initial May 2020 change.

स्रोत विश्वसनीयता मूल्याङ्कन

### ### मौलिक maulika स्रोत: srota: AFR AFR लेख lekha
### Original Source: AFR Article
 Australian Australian Financial Financial Review Review (AFR) (AFR) एक eka **मुख्यधारा, **mukhyadhārā, विश्वसनीय viśvasanīya समाचार samācāra संस्था** saṃsthā** हो ho जससँग jasasa~ga व्यवसाय vyavasāya र ra वित्तीय vittīya रिपोर्टिङको riporṭiṅako ट्र्याक ṭryāka रेकर्ड rekarḍa छ cha [11]। [11]| AFR: AFR: - - Nine Nine Entertainment Entertainment (एउटा (euṭā प्रमुख pramukha अस्ट्रेलियाली asṭreliyālī मिडिया miḍiyā कम्पनी) kampanī) को ko स्वामित्वमा svāmitvamā छ cha - - विशेष viśeṣa वित्तीय vittīya र ra राजनीतिक rājanītika पत्रकारहरूलाई patrakāraharūlāī रोजगारी rojagārī दिन्छ dincha - - विस्तृत vistṛta व्यवसाय vyavasāya रिपोर्टिङको riporṭiṅako लागि lāgi प्रतिष्ठा pratiṣṭhā छ cha (यद्यपि (yadyapi भुक्तान bhuktāna गरिएको garieko सामग्रीले sāmagrīle तिनीहरूको tinīharūko सदस्यता sadasyatā मोडेललाई moḍelalāī प्रतिविम्बित prativimbita गर्न garna सक्छ) sakcha) - - URL URL मा mā हेडलाइन heḍalāina ढाँचा ḍhā~cā ("companies-get-an-extension-to-shield-against-class-actions") ("companies-get-an-extension-to-shield-against-class-actions") सम्पादकीय sampādakīya टिप्पणी ṭippaṇī हो, ho, AFR AFR को ko नीतिको nītiko प्रभावको prabhāvako व्याख्या vyākhyā प्रतिविम्बित prativimbita गर्दै gardai **मूल्याङ्कन:** **mūlyāṅkana:** AFR AFR एक eka प्रतिष्ठित pratiṣṭhita स्रोत srota हो, ho, तर tara लेख lekha संकट saṃkaṭa अवधिमा avadhimā सरकारी sarakārī नीति nīti कार्यान्वयनमा kāryānvayanamā रिपोर्टिङ riporṭiṅa गर्दछ। gardacha| URL URL मा mā "सामूहिक "sāmūhika मुद्दाहरू muddāharū विरुद्ध viruddha ढाल" ḍhāla" ढाँचाले ḍhā~cāle राहतको rāhatako प्रभावको prabhāvako कानुनी kānunī विश्लेषणहरू viśleṣaṇaharū देखाउने dekhāune सम्पादकीय sampādakīya व्याख्या vyākhyā देखाउँछ dekhāu~cha [5][6][7]। [5][6][7]|
The Australian Financial Review (AFR) is a **mainstream, credible news organization** with a track record of business and financial reporting [11].
 ### ### कानुनी kānunī स्रोतहरू srotaharū मार्फत mārphata प्रमाणीकरण pramāṇīkaraṇa
AFR: - Is owned by Nine Entertainment (a major Australian media company) - Employs specialized financial and political journalists - Has reputation for detailed business reporting (though paywalled content may reflect their subscription model) - The headline framing ("companies-get-an-extension-to-shield-against-class-actions") is editorial commentary, reflecting AFR's interpretation of the policy's impact **Assessment:** AFR is a reputable source, but the article is reporting on government policy implementation during crisis period.
 दाबीको dābīko तथ्यगत tathyagata सामग्रीले sāmagrīle निम्नद्वारा nimnadvārā पुष्टि puṣṭi गर्छ: garcha: - - **Corrs **Corrs Chambers Chambers Westgarth** Westgarth** (प्रमुख (pramukha अस्ट्रेलियाली asṭreliyālī कानुन kānuna फर्म): pharma): मे me २०२० 2020 परिवर्तनहरूको parivartanaharūko विस्तृत vistṛta विश्लेषण viśleṣaṇa [4] [4] - - **Herbert **Herbert Smith Smith Freehills** Freehills** (प्रमुख (pramukha अन्तर्राष्ट्रिय antarrāṣṭriya कानुन kānuna फर्म): pharma): सरकारले sarakārale निरन्तर nirantara खुलासा khulāsā नियमहरू niyamaharū स्थायी sthāyī रूपमा rūpamā खुकुलो khukulo बनाउन banāuna खोजेको khojeko पुष्टि puṣṭi [2] [2] - - **Hamilton **Hamilton Locke** Locke** (अस्ट्रेलियाली (asṭreliyālī कानुन kānuna फर्म): pharma): विवादास्पद vivādāspada २०२१ 2021 संशोधनको saṃśodhanako संसदीय saṃsadīya पारित pārita भएको bhaeko नोट noṭa गरे, gare, सामूहिक sāmūhika मुद्दाहरू muddāharū कम kama गर्ने garne स्पष्ट spaṣṭa इरादासहित irādāsahita [5] [5] - - **ASIC **ASIC मिडिया miḍiyā विज्ञप्तिहरू** vijñaptiharū** (नियामक (niyāmaka प्राधिकरण): prādhikaraṇa): खुलासा khulāsā प्राथमिकताहरूमा prāthamikatāharūmā आधिकारिक ādhikārika स्थिति sthiti कागजात kāgajāta [9][10] [9][10] यी yī स्रोतहरूले srotaharūle नीति nīti परिवर्तनहरू parivartanaharū वास्तविक vāstavika र ra महत्त्वपूर्ण mahattvapūrṇa थिए, thie, AFR AFR द्वारा dvārā अतिशयोक्ति atiśayokti वा vā काल्पनिक kālpanika थिएनन् thienan भनेर bhanera पुष्टि puṣṭi गर्छन्। garchan|
The "shield against class actions" framing in the URL shows editorial interpretation of the relief's effect, which aligns with legal analyses showing increased protection for companies [5][6][7].
⚖️

Labor तुलना

**के **ke Labor Labor ले le केही kehī समान samāna गर्यो?** garyo?** Labor Labor ले le अघिल्लो aghillo संकटहरूको saṃkaṭaharūko समयमा samayamā समान samāna अस्थायी asthāyī खुलासा khulāsā राहत rāhata परिचय paricaya गरेनन्। garenan| तर, tara, Labor Labor को ko २०२१ 2021 संशोधनको saṃśodhanako प्रतिक्रिया pratikriyā (जब (jaba तिनीहरू tinīharū मे me २०२२ 2022 मा mā सत्तामा sattāmā आए) āe) निर्देशक nirdeśaka छ: cha:
**Did Labor do something similar?** Labor did not introduce equivalent temporary disclosure relief during previous crises.
 ### ### Labor Labor को ko २०२२-२०२४ 2022-2024 प्रतिक्रिया pratikriyā
However, Labor's response to the 2021 Amendment (when they came to power in May 2022) is instructive:
 1. 1. **स्वतन्त्र **svatantra समीक्षा:** samīkṣā:** Labor Labor ले le स्वतन्त्र svatantra समीक्षक samīkṣaka केविन kevina लेविसलाई levisalāī २०२१ 2021 संशोधनले saṃśodhanale उद्देश्यअनुसार uddeśyaanusāra काम kāma गरिरहेको gariraheko छ cha कि ki छैन chaina मूल्याङ्कन mūlyāṅkana गर्न garna नियुक्त niyukta गरे gare [12] [12] 2. 2. **द्विविभाजित **dvivibhājita दृष्टिकोण:** dṛṣṭikoṇa:** २०२१ 2021 संशोधन saṃśodhana पूर्ण pūrṇa रूपमा rūpamā रद्द radda गर्नुको garnuko सट्टा, saṭṭā, Labor Labor ले: le: - - **ASIC **ASIC कार्यान्वयनका kāryānvayanakā लागि lāgi दोष doṣa तत्व tatva रद्द radda गर्यो** garyo** (ताकि (tāki नियामकहरूले niyāmakaharūle दोष doṣa प्रमाणित pramāṇita गर्नुपर्ने garnuparne बिना binā उल्लंघनको ullaṃghanako मुद्दा muddā लगाउन lagāuna सकून्) sakūn) [12] [12] - - **निजी **nijī वादीहरूका vādīharūkā लागि lāgi दोष doṣa तत्व tatva कायम kāyama राख्यो** rākhyo** (सामूहिक (sāmūhika मुद्दाहरू muddāharū उच्च ucca बारमा bāramā अधीनस्थ adhīnastha रहन्छन्) rahanchan) [12] [12] 3. 3. **परिणाम:** **pariṇāma:** २०२४ 2024 सम्म, samma, संरचना saṃracanā कायम kāyama छ: cha: ASIC ASIC ले le सजिलै sajilai निरन्तर nirantara खुलासा khulāsā मामिलाहरू māmilāharū पीछा pīchā गर्न garna सक्छ, sakcha, तर tara सामूहिक sāmūhika मुद्दा muddā प्लेण्टिफहरूले pleṇṭiphaharūle अभावमा abhāvamā आधारित ādhārita जानकारीको jānakārīko लापरवाही lāparavāhī प्रमाणित pramāṇita गर्नुपर्छ garnuparcha [12] [12]
### Labor's 2022-2024 Response
 ### ### मूल्याङ्कन mūlyāṅkana
1. **Independent Review:** Labor appointed independent reviewer Kevin Lewis to assess whether the 2021 Amendment was working as intended [12] 2. **Bifurcated Approach:** Rather than fully repealing the 2021 Amendment, Labor: - **Repealed the fault element for ASIC enforcement** (so regulators can prosecute breaches without proving fault) [12] - **Retained the fault element for private litigants** (class actions remain subject to higher bar) [12] 3. **Result:** As of 2024, the structure remains: ASIC can pursue continuous disclosure cases easily, but class action plaintiffs must prove negligence about omitted information [12]
 यसले yasale सुझाव sujhāva दिन्छ dincha कि ki Labor Labor ले le स्थायी sthāyī सामूहिक sāmūhika मुद्दा muddā प्रतिबन्धहरूको pratibandhaharūko व्यावहारिक vyāvahārika योग्यता yogyatā (कम्पनीहरूका (kampanīharūkā लागि lāgi फाल्तु phāltu मुद्दाहलत muddāhalata लागत lāgata घटाउने) ghaṭāune) स्वीकार svīkāra गर्यो, garyo, जबकि jabaki नियामक niyāmaka कार्यान्वयन kāryānvayana मजबुत majabuta हुनुपर्छ hunuparcha भन्ने bhanne मान्यता mānyatā दियो diyo [12]। [12]| Labor Labor ले le विपरित viparita परिवर्तन parivartana गरेन; garena; तिनीहरूले tinīharūle लक्षित lakṣita परिस्करण pariskaraṇa गरे। gare| **निष्कर्ष:** **niṣkarṣa:** Labor Labor सँग sa~ga तिनीहरूको tinīharūko पछिल्लो pachillo कार्यकालबाट kāryakālabāṭa प्रत्यक्ष pratyakṣa समकक्ष samakakṣa छैन। chaina| सबैभन्दा sabaibhandā नजिकको najikako तुलना tulanā Labor Labor को ko २०२३-२०२४ 2023-2024 मा mā **धेरैजसो **dheraijaso प्रतिबन्धहरू pratibandhaharū स्थानमा sthānamā राख्ने rākhne निर्णय** nirṇaya** हो, ho, २०२० 2020 अघिको aghiko मापदण्डहरू māpadaṇḍaharū पूर्ण pūrṇa रूपमा rūpamā पुनर्स्थापना punarsthāpanā गर्नुको garnuko सट्टा, saṭṭā, दुवै duvai पार्टीहरूद्वारा pārṭīharūdvārā थप thapa सामूहिक sāmūhika मुद्दा muddā सीमाहरूको sīmāharūko केही kehī क्रस-पार्टी krasa-pārṭī स्वीकृति svīkṛti सुझाव sujhāva दिँदै। di~dai|
### Assessment
🌐

सन्तुलित दृष्टिकोण

### ### राहत rāhata समर्थन samarthana गर्ने garne तर्कहरू tarkaharū
### Arguments Supporting the Relaxation
 **1. **1.
**1.
 महामारी mahāmārī सन्दर्भ** sandarbha** मे me २०२० 2020 मा, mā, जब jaba निर्णय nirṇaya कार्यान्वयन kāryānvayana भयो, bhayo, अस्ट्रेलियाले asṭreliyāle निम्न nimna बारेमा bāremā चरम carama अनिश्चितताको aniścitatāko सामना sāmanā गरिरहेको gariraheko थियो: thiyo: - - COVID-19 COVID-19 संक्रमण saṃkramaṇa र ra स्वास्थ्य svāsthya प्रभाव prabhāva (हप्तामा (haptāmā परिवर्तन parivartana हुने) hune) - - आर्थिक ārthika प्रभाव prabhāva अवधि avadhi र ra गम्भीरता gambhīratā - - आपूर्ति āpūrti शृङ्खला śṛṅkhalā व्यवधान vyavadhāna - - लकडाउन lakaḍāuna अवधि avadhi र ra दायरा dāyarā सञ्चालकहरूले sañcālakaharūle आधारभूत ādhārabhūta प्यारामिटरहरू pyārāmiṭaraharū अज्ञात ajñāta हुँदा hu~dā लगानीकर्ताहरूका lagānīkartāharūkā लागि lāgi के ke जानकारी jānakārī "भौतिक" "bhautika" हुन्छ huncha भनेर bhanera अनुमान anumāna लगाउन lagāuna वास्तविक vāstavika कठिनाइको kaṭhināiko सामना sāmanā गरे। gare| दोष doṣa तत्व tatva (लापरवाही) (lāparavāhī) ले le चरम carama अनिश्चितताको aniścitatāko समयमा samayamā गरिएका gariekā उचित ucita खुलासा khulāsā निर्णयहरूको nirṇayaharūko सुरक्षा surakṣā प्रदान pradāna गर्यो, garyo, जानाजानी jānājānī गैर-खुलासाको gaira-khulāsāko सुरक्षा surakṣā होइन hoina [4]। [4]| **2. **2.
Pandemic Context** In May 2020, when the Determination was implemented, Australia faced extreme uncertainty about: - COVID-19 transmission and health impacts (changing weekly) - Economic impact duration and severity - Supply chain disruptions - Lockdown duration and scope Directors faced genuine difficulties predicting what information would be "material" to investors when fundamental parameters were unknown.
 अवसरवादी avasaravādī मुद्दाहलत muddāhalata जोखिम** jokhima** कानुनी kānunī टिप्पणीकारहरूले ṭippaṇīkāraharūle त्यस्तो tyasto राहत rāhata बिना, binā, कम्पनीहरूले kampanīharūle उल्लेख ullekha गर्न garna असफल asaphala भएको bhaeko जानकारी jānakārī भौतिक bhautika थियो thiyo भन्ने bhanne पछि pachi देखिने dekhine मामिलामा māmilāmā सामूहिक sāmūhika मुद्दाहरूको muddāharūko सामना sāmanā गर्न garna सक्छन् sakchan भनेर bhanera नोट noṭa गरे gare [7]। [7]| राहतले rāhatale कम्पनीहरूलाई kampanīharūlāī त्यस्ता tyastā मुद्दाहलतहरूबाट muddāhalataharūbāṭa सुरक्षा surakṣā दियो diyo जहाँ jahā~ खुलासा khulāsā निर्णयहरू, nirṇayaharū, पछि pachi अपर्याप्त aparyāpta देखिए dekhie पनि, pani, निर्णयको nirṇayako समयमा samayamā उचित ucita थिए thie [5]। [5]| **3. **3.
The fault element (negligence) provided protection for reasonable disclosure decisions made under extreme uncertainty, rather than protecting deliberate non-disclosure [4]. **2.
 अनुपालन anupālana लागत** lāgata** अधिक adhika आक्रामक ākrāmaka खुलासा khulāsā दायित्व dāyitva नियमहरूले niyamaharūle सबै sabai कम्पनीहरूका kampanīharūkā लागि lāgi लागत lāgata बढाउँछन्, baḍhāu~chan, विशेष viśeṣa गरी garī सानो-मध्यम sāno-madhyama क्याप kyāpa फर्महरू pharmaharū जससँग jasasa~ga जटिल jaṭila अनुपालन anupālana पूर्वाधार pūrvādhāra छैन। chaina| अस्थायी asthāyī राहतले rāhatale संकट saṃkaṭa अवधिमा avadhimā अनुपालन anupālana दबाव dabāva कम kama गर्यो। garyo|
Opportunistic Litigation Risk** Legal commentators noted that without such relief, companies might face class actions for failing to disclose information that couldn't reasonably have been assessed as material [7].
 ### ### राहतको rāhatako विरुद्ध viruddha / / लगानीकर्ता lagānīkartā संरक्षणको saṃrakṣaṇako पक्षमा pakṣamā तर्कहरू tarkaharū
The relaxation protected companies from litigation where disclosure decisions, while later appearing inadequate, were reasonable at the time of decision [5]. **3.
 **1. **1.
Cost of Compliance** More aggressive disclosure liability rules increase costs for all companies, particularly small-to-mid-cap firms that lack sophisticated compliance infrastructure.
 स्थायी sthāyī कार्यान्वयन kāryānvayana समस्या** samasyā** मौलिक maulika आलोचना ālocanā यो yo हो ho कि ki अस्थायी asthāyī आपतकालीन āpatakālīna राहतलाई rāhatalāī **अगस्ट **agasṭa २०२१ 2021 को ko संशोधन saṃśodhana मार्फत mārphata स्थायी sthāyī कानून** kānūna** बनाइयो banāiyo [5][6]। [5][6]| जबकि jabaki मे me २०२० 2020 को ko आपतकालीन āpatakālīna परिस्थितिहरूले paristhitiharūle अस्थायी asthāyī लचकता lacakatā जायज jāyaja ठहराउन ṭhaharāuna सक्छ, sakcha, यी yī परिवर्तनहरू parivartanaharū स्थायी sthāyī बनाउने banāune (अगस्ट (agasṭa २०२१, 2021, आर्थिक ārthika पुनर्प्राप्तिमा) punarprāptimā) ले le नीति nīti आपतकालीन āpatakālīna प्रतिक्रियाबाट pratikriyābāṭa स्थायी sthāyī लगानीकर्ता lagānīkartā संरक्षण saṃrakṣaṇa कमीमा kamīmā सार्यो sāryo [6][8]। [6][8]| सरकारी sarakārī कागजातहरूले kāgajātaharūle स्थायी sthāyī संशोधन saṃśodhana "अवसरवादी "avasaravādī सामूहिक sāmūhika मुद्दाहरूको muddāharūko घटना ghaṭanā कम kama गर्ने garne उद्देश्यले" uddeśyale" भएको bhaeko उल्लेख ullekha गर्छन्—महामारी garchan—mahāmārī प्रतिक्रियासँग pratikriyāsa~ga असम्बन्धित asambandhita नीति nīti प्राथमिकता prāthamikatā [5]। [5]| **2. **2.
The temporary relaxation reduced compliance pressure during a crisis period.
 लगानीकर्ताहरूमा lagānīkartāharūmā भार bhāra स्थानान्तरण** sthānāntaraṇa** दोष doṣa तत्वले tatvale विशेष viśeṣa रूपमा rūpamā **अभावहरू**मा **abhāvaharū**mā आधारित ādhārita सामूहिक sāmūhika मुद्दाहरूलाई muddāharūlāī प्रभावित prabhāvita गर्छ—खुलासा garcha—khulāsā नगरिएको nagarieko जानकारी। jānakārī| प्लेण्टिफहरूले pleṇṭiphaharūle भौतिकता bhautikatā बारे bāre सञ्चालकहरूको sañcālakaharūko लापरवाही lāparavāhī प्रमाणित pramāṇita गर्न garna आवश्यक āvaśyaka बनाएर, banāera, कानूनले kānūnale खोजी khojī भार bhāra प्लेण्टिफहरूमा pleṇṭiphaharūmā राख्छ, rākhcha, कम्पनीहरूलाई kampanīharūlāī गैर-खुलासा gaira-khulāsā सजाय sajāya दिनुको dinuko सट्टा saṭṭā [6][7][8]। [6][7][8]| यो yo अनुपातहीन anupātahīna रूपमा rūpamā प्रभावित prabhāvita गर्छ: garcha: - - जटिल jaṭila खोजीको khojīko स्रोत srota नभएका nabhaekā खुद्रा khudrā लगानीकर्ताहरू lagānīkartāharū - - त्यो tyo हल hala गर्ने garne आशामा āśāmā प्रतिकूल pratikūla जानकारी jānakārī नखुलासा nakhulāsā गर्ने garne जानाजानी jānājānī निर्णय nirṇaya गर्ने garne कम्पनीहरू kampanīharū - - सञ्चालकहरूले sañcālakaharūle जानकारी jānakārī भौतिक bhautika थियो thiyo भनेर bhanera विचार vicāra नगरेका nagarekā परिस्थितिहरू paristhitiharū [7] [7] **3. **3.
### Arguments Against the Relaxation / In Favor of Investor Protection
 अन्य anya क्षेत्रहरूसँग kṣetraharūsa~ga तुलना** tulanā** अमेरिकी amerikī निरन्तर nirantara खुलासा khulāsā शासन śāsana (Securities (Securities Exchange Exchange Act Act को ko सेक्सन seksana १०(b), 10(b), नियम niyama १०b-5) 10b-5) ले le scienter scienter (इरादा/ज्ञान) (irādā/jñāna) आवश्यक āvaśyaka पार्छ pārcha तर tara अस्ट्रेलियाली asṭreliyālī आवश्यकताभन्दा āvaśyakatābhandā फराकिलो pharākilo रूपमा rūpamā व्याख्या vyākhyā गरिएको garieko छ cha [अमेरिकी [amerikī प्रतिभूति pratibhūti कानून kānūna अनुसन्धान anusandhāna आवश्यक āvaśyaka भएमा bhaemā उद्धरण]। uddharaṇa]| **4. **4.
**1.
 ASIC ASIC को ko वास्तविक vāstavika नियामक niyāmaka स्थिति** sthiti** Treasury Treasury को ko सामूहिक sāmūhika मुद्दा muddā कम kama गर्ने garne चाहनाको cāhanāko बावजुद, bāvajuda, ASIC ASIC को ko २०२० 2020 मिडिया miḍiyā विज्ञप्तिहरूले vijñaptiharūle नियामकले niyāmakale कम्पनीहरूलाई kampanīharūlāī COVID-सम्बन्धित COVID-sambandhita जानकारी jānakārī बढी baḍhī खुलासा khulāsā गर्न garna चाहेको cāheko देखाउँछ, dekhāu~cha, कम kama होइन hoina [9][10]। [9][10]| यसले yasale नियामक niyāmaka र ra व्यवस्थापिका vyavasthāpikā लक्ष्यहरू lakṣyaharū फरक pharaka भएको bhaeko सुझाव sujhāva दिन्छ—Treasury dincha—Treasury ले le मुद्दाहलत muddāhalata संरक्षण saṃrakṣaṇa चाहन्थ्यो, cāhanthyo, ASIC ASIC ले le खुलासा khulāsā पारदर्शिता pāradarśitā चाहन्थ्यो। cāhanthyo|
Permanent Implementation Problem** The fundamental criticism is that temporary emergency relief became **permanent law through the August 2021 Amendment** [5][6].

आंशिक रूपमा सत्य

6.5

/ १०

दाबी dābī तथ्यगत tathyagata रूपमा rūpamā सही sahī छ cha कि ki Coalition Coalition ले le महामारीको mahāmārīko समयमा samayamā सामूहिक sāmūhika मुद्दा muddā दायित्व dāyitva जोखिम jokhima कम kama गर्ने garne प्रभावसहित prabhāvasahita कर्पोरेट karporeṭa वित्तीय vittīya खुलासा khulāsā नियमहरू niyamaharū खुकुलो khukulo बनायो। banāyo| तर, tara, चरित्रण caritraṇa स्पष्टीकरण spaṣṭīkaraṇa आवश्यक āvaśyaka छ: cha: 1. 1. **के **ke सही sahī छ:** cha:** Coalition Coalition ले le मे me २०२० 2020 मा mā विशेष viśeṣa रूपमा rūpamā सामूहिक sāmūhika मुद्दा muddā जोखिम jokhima कम kama गर्न garna नियमहरू niyamaharū खुकुलो khukulo बनायो; banāyo; परिवर्तनहरू parivartanaharū अगस्ट agasṭa २०२१ 2021 मा mā स्थायी sthāyī बनाइयो; banāiyo; तिनीहरूले tinīharūle अभावमा abhāvamā आधारित ādhārita जानकारीबाट jānakārībāṭa लगानीकर्ताहरूको lagānīkartāharūko मुद्दाहलत muddāhalata विशेष viśeṣa रूपमा rūpamā प्रभावित prabhāvita गरे gare [1][2][5] [1][2][5] 2. 2. **के **ke सरलीकृत saralīkṛta छ:** cha:** नियमहरूले niyamaharūle "लगानीकर्ताहरूलाई "lagānīkartāharūlāī सामूहिक sāmūhika मुद्दा muddā दायर dāyara गर्न garna रोक्दैन"—तिनीहरूले rokdaina"—tinīharūle अभावमा abhāvamā आधारित ādhārita सामूहिक sāmūhika मुद्दाहरू muddāharū प्लेण्टिफहरूले pleṇṭiphaharūle लापरवाही lāparavāhī प्रमाणित pramāṇita गर्नुपर्ने garnuparne बनाएर banāera कठिन kaṭhina बनाउँछन्। banāu~chan| कम्पनीहरू kampanīharū अझै ajhai पनि pani गलत galata बयानका bayānakā लागि lāgi पूर्ण pūrṇa रूपमा rūpamā जिम्मेवार jimmevāra छन्। chan| लगानीकर्ताहरूले lagānīkartāharūle अझै ajhai पनि pani मुद्दा muddā हाल्न hālna सक्छन्; sakchan; मुद्दाहलत muddāhalata महँगो maha~go छ cha [6][7][8] [6][7][8] 3. 3. **के **ke छुटेको chuṭeko छ:** cha:** अगस्ट agasṭa २०२१ 2021 मा mā स्थायी sthāyī कार्यान्वयन kāryānvayana महामारी mahāmārī प्रतिक्रियासँग pratikriyāsa~ga असम्बन्धित asambandhita व्यान्डित vyānḍita नीति nīti विकल्प vikalpa थियो, thiyo, राहतको rāhatako दायरा dāyarā आपतकालीन āpatakālīna परिस्थितिभन्दा paristhitibhandā पर para विस्तार vistāra गर्यो garyo [5]। [5]| Labor Labor को ko २०२३-२०२४ 2023-2024 समीक्षाले samīkṣāle प्रतिबन्धहरू pratibandhaharū स्थानमा sthānamā राख्यो, rākhyo, दलगत dalagata स्वीकृति svīkṛti सुझाव sujhāva दिँदै di~dai [12] [12] **दाबीको **dābīko सबैभन्दा sabaibhandā सटीक saṭīka पुनर्भाषा:** punarbhāṣā:** "Coalition "Coalition ले le महामारीको mahāmārīko समयमा samayamā अस्थायी asthāyī रूपमा rūpamā निरन्तर nirantara खुलासा khulāsā नियमहरू niyamaharū खुकुलो khukulo बनायो banāyo (मे (me २०२०), 2020), लगानीकर्ताहरूलाई lagānīkartāharūlāī अभावमा abhāvamā आधारित ādhārita मुद्दाहरू muddāharū दायर dāyara गर्न garna कठिन kaṭhina (तर (tara असम्भव asambhava होइन) hoina) बनाउँदै। banāu~dai| यी yī अस्थायी asthāyī नियमहरूलाई niyamaharūlāī अगस्ट agasṭa २०२१ 2021 मा mā स्थायी sthāyī कानून kānūna बनाइयो, banāiyo, जसले jasale निजी nijī वादीहरूका vādīharūkā लागि lāgi सबै sabai निरन्तर nirantara खुलासा khulāsā उल्लंघनहरूमा ullaṃghanaharūmā दोष doṣa तत्व tatva (लापरवाही (lāparavāhī प्रमाणित pramāṇita गर्नुपर्ने) garnuparne) विस्तार vistāra गर्यो। garyo| Labor Labor ले le २०२३-२०२४ 2023-2024 मा mā समीक्षा samīkṣā गर्दा gardā यी yī प्रतिबन्धहरू pratibandhaharū स्थानमा sthānamā राख्यो।" rākhyo|"
The claim is factually correct that the Coalition loosened corporate financial disclosure rules during the pandemic with the effect of reducing class action liability exposure.

📚 स्रोतहरू र उद्धरणहरू (12)

  1. 1
    corrs.com.au

    Corrs Chambers Westgarth - COVID-19: important changes to continuous disclosure provisions

    Corrs Com

  2. 2
    herbertsmithfreehills.com

    Herbert Smith Freehills - Australian Federal Government seeks to permanently ease continuous disclosure rules

    Herbertsmithfreehills

  3. 3
    Lexology - Temporary changes to Australia's continuous disclosure regime are here to stay

    Lexology - Temporary changes to Australia's continuous disclosure regime are here to stay

    The federal government has announced that temporary changes to continuous disclosure obligations imposed on listed companies under the Corporations…

    Lexology
  4. 4
    Clifford Chance - Caution! Temporary changes to Australian continuous disclosure regime likely to be ineffective

    Clifford Chance - Caution! Temporary changes to Australian continuous disclosure regime likely to be ineffective

    The temporary changes, which are in effect for six months from 26 May 2020, ignore a number of provisions commonly invoked by class action plaintiffs to pursue damages claims in relation to alleged continuous disclosure failings

    Clifford Chance
  5. 5
    Hamilton Locke - Parliament Passes Controversial Changes to Australia's Continuous Disclosure Laws

    Hamilton Locke - Parliament Passes Controversial Changes to Australia's Continuous Disclosure Laws

    The Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 has passed both houses of Parliament and is expected to receive Royal Assent sometime in August. It represents a significant shift in what consequences apply to companies and their directors and officers for a breach of the continuous disclosure laws. The continuous disclosure obligations remain

    Hamilton Locke - Smarter. Different.
  6. 6
    Allens - Will new continuous disclosure laws limit shareholder class actions?

    Allens - Will new continuous disclosure laws limit shareholder class actions?

    Following a period of temporary reform, Australia's continuous disclosure regime has been permanently amended in an effort to combat the upward trend of opportunistic shareholder class actions and to put downward pressure on premiums for directors and officers insurance

    Allens Com
  7. 7
    Jones Day - ASIC Enforcement of Australia's Continuous Disclosure Regime Gets a Boost

    Jones Day - ASIC Enforcement of Australia's Continuous Disclosure Regime Gets a Boost

    <div><p>The Australian federal government recently issued its response to the "report of the independent review of the changes to the continuous disclosure laws" prepared by Dr Kevin Lewis (Independent Review). In its response, the government accepted the key recommendations of the Independent Review, with the market now awaiting details of the introduction of amending legislation by the government, including likely timing.</p><p><strong>Recap of the Independent Review</strong></p><p>The government, as required under the <em>Corporations Act 2001</em> (Cth), commissioned the Independent Review into the changes introduced into Australia's continuous disclosure regime back in 2021, under the <em>Treasury Laws Amendment (2021 Measures No.1) Act 2021 </em>(Cth). The changes were expressly stated to be intended to reduce the incidence of opportunistic class actions against ASX-listed companies accused of not keeping the market informed of price sensitive information. The key aspect of the amendments was to introduce a fault element into the continuous disclosure laws, which meant that it was a requirement for a plaintiff or regulator to demonstrate that a disclosing entity or its officers had acted with either knowledge, recklessness or negligence, in breaching their continuous disclosure obligations for civil liability actions.</p><p>Despite commenting that the two-year review period since the changes was insufficient to draw meaningful evidence-based conclusions on many matters included in the Terms of Reference, the Independent Review made six recommendations—with the government subsequently announcing its support for four of the recommendations, and noting the remaining two.</p><p><strong>Primary Recommendations Arising From the Independent Review</strong></p><p>The government agreed with the following primary recommendations:</p><ul><li>Removal of the requirement that ASIC needs to prove in civil penalty proceedings for a breach of continuous disclosure laws that the disclosing entity acted knowingly, recklessly or negligently; and</li><li>Retention "for the time being" of the requirement that private litigants in civil compensation proceedings need to provide that the disclosing entity acted knowingly, recklessly or negligently. </li></ul><p><strong>Disclosing Entities Must Maintain a Strong Focus on Compliance With Their Continuous Disclosure Obligations—Removal of the "Fault Element" Coupled With ASIC's Enforcement Focus Could Lead to an Increase in ASIC Actions</strong></p><p>One of the primary findings of the Independent Review was that the 2021 Amendments have had, and are likely to continue to have, a negative impact on ASIC's enforcement of the continuous disclosure laws.</p><p>In its submission to the Independent Review, ASIC remarked that, in the context of issuing infringement notices, the need to ultimately prove the "fault element" (as part of bringing civil penalty proceedings for contravening conduct when an infringement notice penalty is not paid) was likely to reduce ASIC's appetite to use infringement notices for contraventions of continuous disclosure. Accordingly, the recommended removal of the "fault element" may encourage ASIC to increase its issuance of infringement notices.</p><p>The key takeaway of the removal of the fault element, if this recommendation is given effect by legislative changes, is that ASIC will be able to pursue enforcement action (including civil penalty proceedings) for unintentional or inadvertent breaches of Australia's continuous disclosure laws. It is therefore critical that disclosing entities renew their focus on their continuous disclosure obligations and related policies and processes.</p><p>Finally, companies, directors and officers should have regard to the proposed release in early 2025 of the <em>ASX Corporate Governance Council's fifth edition Corporate Governance Principles and Recommendations</em>, which also makes recommendations in relation to continuous disclosure policy and process matters.</p><p><strong>Practical Effect of the 2021 Amendments on Continuous Disclosure-Related Class Actions Remains Undecided—"Fault Element" Retained (for Now)</strong></p><p>In its response, the government noted that a diversity of views were expressed and submissions received during the consultation period for the Independent Review. In that context, the Independent Review observed that the 2021 Amendments have had, and are likely to continue to have, little (if any) impact on the number and types of continuous disclosure class actions against disclosing entities and that meritorious continuous disclosure class actions are still likely to proceed.</p><p>The government agreed with the recommendation to retain—for the time being—the requirement for private litigants to prove the "fault element" in continuous disclosure-related class actions. </p><p>Given the comment that the review period was too short to discern any pattern arising from the 2021 Amendments in the number of continuous disclosure class actions, we expect the government to continue monitoring the situation for the emergence of any negative effect as a result of class action filings on disclosure standards. We expect both proponents and defendants of class actions to put forward different perspectives on the statistics and (any) causal links. </p><p><strong>Climate-Related Financial Disclosures Remain in Focus</strong></p><p>The consultation process for the Independent Review flushed out some concerns between the interplay between the 2021 Amendments and potential class action risks arising from the mandatory climate-related reporting requirements, particularly in relation to the forward-looking statements required by that regime. </p><p>The government's response to the Independent Review said that it had considered the implications of Recommendations 1 and 2 (as set out above) as part of its process to implement the climate-related disclosure legislation. The key point for companies, directors and officers is that they should remain alive to the prospect of enforcement action by ASIC utilizing the continuous disclosure regime, as well as other legislative provisions, in relation to their climate-related disclosures, once that regime comes into effect (which is expected to occur from 1 January 2025). The retention of the fault element for private litigants will provide some assistance to companies who may find themselves defending those claims, as will the transitional modified liability regime for private actions included in the incoming climate-related disclosure legislation.</p></div>

    Jonesday
  8. 8
    Addisons - Continuous disclosure regime: back to the future

    Addisons - Continuous disclosure regime: back to the future

    With discussions about amending the Corporations Act to strengthen ASIC’s powers to enforce continuous disclosure obligations, ASX-listed companies should review their internal policies regarding ongoing disclosure obligations.

    Addisons | Sydney Law Firm
  9. 9
    ASIC 20-157MR - Focuses for financial reporting under COVID-19 conditions

    ASIC 20-157MR - Focuses for financial reporting under COVID-19 conditions

    Fair, strong and efficient financial system for all Australians.

    Asic Gov
  10. 10
    ASIC 20-325MR - ASIC highlights focus areas for 31 December 2020 financial reports under COVID-19 conditions

    ASIC 20-325MR - ASIC highlights focus areas for 31 December 2020 financial reports under COVID-19 conditions

    Fair, strong and efficient financial system for all Australians.

    Asic Gov
  11. 11
    Australian Financial Review - About AFR

    Australian Financial Review - About AFR

    The Australian Financial Review reports the latest news from business, finance, investment and politics, updated in real time. It has a reputation for independent, award-winning journalism and is essential reading for the business and investor community.

    Australian Financial Review
  12. 12
    PDF

    Treasury.gov.au - Government response to Independent Review on continuous disclosure laws

    Treasury Gov • PDF Document

मूल्याङ्कन स्केल कार्यप्रणाली

1-3: गलत

तथ्यात्मक रूपमा गलत वा दुर्भावनापूर्ण बनावटी।

4-6: आंशिक

केही सत्य तर सन्दर्भ हराइरहेको वा विकृत छ।

7-9: प्रायः सत्य

सानो प्राविधिक विवरण वा शब्दावली मुद्दाहरू।

10: सटीक

पूर्ण रूपमा प्रमाणित र सन्दर्भमा उचित।

विधि: मूल्याङ्कनहरू आधिकारिक सरकारी अभिलेख, स्वतन्त्र तथ्य-जाँच संगठनहरू र प्राथमिक स्रोत कागजातहरूको क्रस-रेफरेन्सिङ मार्फत निर्धारित गरिन्छ।

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