Government responds to Cole Inquiry AWB Report

The Commonwealth Government has issued its response to the Cole Inquiry Report tabled on 27 November 2006.

The Government has accepted the Cole Report’s recommendations and in response will introduce legislation:

• requiring applicants for licences to import or export under United Nations sanctions to provide information to the Government; criminal penalties will apply for giving false or misleading information;
• creating a new offence for breaching UN sanctions;
• giving Government agencies the power to obtain evidence about suspected evasion of sanctions so they can be referred to law enforcement agencies;
• strengthening laws aimed at bribery of foreign officials; and
• making tax laws consistent with foreign bribery laws.

The penalty for a breach will be up to three times the value of the offending transaction and up to 10 years’ jail for individuals.

On 30 November 2006 the Australian Government announced an inquiry by the Australian Law Reform Commission (ALRC) into legal professional privilege as it relates to the activities of Commonwealth investigatory agencies.

On 12 January 2007, the Australian Government announced the appointment of a Wheat Export Marketing Consultation Committee to undertake extensive consultation with the Australian wheat industry, particularly growers, about their wheat export marketing needs.

A Taskforce led by senior former Australian Federal Police officer Peter Donaldson is working on possible prosecutions arising from the Cole Inquiry.

UPDATE 15 June 2007: International Trade Integrity Bill introduced