Omnibus bill introduced on May 5. Amongst other things it makes changes to commerce law to allow a “business debt hibernation” regime and a safe harbour for insolvency-related directors’ duties. Also changes termination rules around commercial property and the Commerce Commission’s treatment of cartel behaviour. The Bill also contains amendments to a large number of laws around regulatory requirements which will not be able to be met in the current environment. Supported by all parties and referred to the Epidemic Response Committee, to be reported by May 12. Reported back and passed under Urgency on May 12 with the support of all parties except for ACT.
COVID-19 Response (Further Management Measures) Legislation Bill