Journal article
Does s 420A impose "strict liability" upon controllers for acts or omissions of agents and experts?
Insolvency law journal, Vol.20(2), p.124
01/06/2012
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Abstract
This article addresses in depth the question of whether s 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.
Details
- Title
- Does s 420A impose "strict liability" upon controllers for acts or omissions of agents and experts?
- Creators
- Mark Wellard (Author) - Queensland University of Technology
- Publication Details
- Insolvency law journal, Vol.20(2), p.124
- Publisher
- Lawbook Co Ltd
- Identifiers
- 991013227010502368
- Academic Unit
- Faculty of Business, Law and Arts
- Language
- English
- Resource Type
- Journal article