Proposed changes to the Corporations Act 2001 (the Act) will significantly increase compliance obligations for whistleblower protection for corporate employers.

Civil and criminal penalties apply if a company and/or its individuals fail to manage a whistleblowing disclosure in accordance with the Act. This arises from the Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2017 (the Bill). The Senate Economics Legislation Committee has recommended that the Bill be passed.  Under the new regime, businesses will need to ensure their policies, procedures and practices reflect the changes, and also develop robust response plans to proactively prepare for a potential whistleblowing scenario.