The Australian Securities and Investments Commission have today considered a controversial amendment to the Corporations Act 2001, which would add to an already-exhaustive list of director’s duty.
The new duty, which has been proposed to be inserted as s588FZ in the Act, would require directors to resist from sexually harassing women. The proposal to add this duty as s69 was widely rejected as ‘not really understanding the point of this law.’
In the wake of the #MeToo movement, and a broader cultural shift toward respecting women, ASIC has continually come under fire for failing to legislate requirements which would encourage directors to not abuse their positions of power for sexual gratification.
The ASIC response of ‘what harrassment?’ has tragically been revealed to be a bit ridiculous in the Weinstein, CK, and Spacey era - way to ruin the fun for the rest of us, boys!
Many notable directors have made submissions to the federal agency, arguing they are already under enough duties, and it would be ‘dog as all fuck to add another duty the night before the Corporate exam - think of the students, ASIC!’
In response to the above submissions, ASIC have agreed to postpone adding the amendment until after the exam.
Wait, it’s tomorrow? The exam’s tomorrow?
We need to sleep!