THE AUSTRALIAN Institute of Company Directors says the country’s inconsistent health and safety laws are a hazard to them.
A recent federal Treasury survey of directors of ASX200 companies showed more than 65% of directors occasionally take an overly cautious approach in the boardroom due to the risk of personal liability and another 13% said this happened frequently.
The group says the current legislation is not principled and is counterproductive. It claims currently penalties for directors under OHS laws vary between state, territory and the federal jurisdictions which created uncertainty and substantial cost to business.
The Institute claims this uncertainty stifles business by encouraging an overly cautious approach to decision-making which has negative effects for both the business and ultimately the economy.
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