Summary
Amends the: Corporations Act 2001 to: strengthen enforcement and recovery options to deter and penalise company directors and other persons who engage in, or facilitate, transactions that are aimed at preventing, avoiding or significantly reducing employer liability for employee entitlements in insolvency; enable the recovery of unpaid employee entitlements of an insolvent company from certain entities in limited circumstances; and enable the Australian Securities and Investments Commission to disqualify company directors and other officers (either directly or on application to the Court), where they have a track record of corporate contraventions and inappropriately using the Fair Entitlements Guarantee scheme to pay outstanding employee entitlements; and Corporations (Aboriginal and Torres Strait Islander) Act 2006 to make a consequential amendment.