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Does section 420A impose ‘strict liability’ upon controllers for acts or omissions of agents and experts?

Wellard, Mark Norman (2012) Does section 420A impose ‘strict liability’ upon controllers for acts or omissions of agents and experts? Insolvency Law Journal, 20(2), pp. 124-143.

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Abstract

This article addresses in depth the question of whether section 420A of the Corporations Act 2001 (Cth) imposes ‘strict liability’ upon a controller for the failure of an agent or expert to take reasonable care. The weight of existing authority appears to suggest that controllers are liable under s 420A for the carelessness of their agents or expert advisers. However, a closer analysis of the text of the provision and relevant Australian and UK case law demonstrates that this aspect of the statutory construction of s 420A remains very much an open question. This article ultimately contends for a construction of s 420A which requires a controller to adequately supervise and scrutinise, but which does not render a blameless controller strictly liable for all careless acts and omissions of agents and expert advisers.

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ID Code: 50936
Item Type: Journal Article
Keywords: Corporation Act 2001, Section 420A, strict liability, Australian and UK Case Law
ISSN: 1039-3293
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Corporations and Associations Law (180109)
Divisions: Current > QUT Faculties and Divisions > Faculty of Law
Current > Schools > School of Law
Copyright Owner: Copyright 2012 Thomson Reuters
Deposited On: 19 Jun 2012 08:31
Last Modified: 02 Jul 2012 21:00

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