--- title: "New Law: Do you have a Whistleblower Policy in place? It comes into effect 1 Jan 2020!" description: "New Law: Do You Have A Whistleblower Policy in place? It comes into effect 1 January 2020! Certain companies will be required to have a Whistleblower Policy that complies with the new section of the Corporations Act 2001." image: https://blog.azuregroup.com.au/hubfs/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020-azure-group-blog.png --- - [** Facebook ](https://www.facebook.com/AzureGroup/) - [** LinkedIn ](https://www.linkedin.com/company/the-azure-group/) - [** Twitter ](https://twitter.com/Azure_Group) - [** ourteam@azuregroup.com.au ](mailto:ourteam@azuregroup.com.au) - [** +61 2 9238 1188 ](tel:+61%202%209238%201188) [![azure-group_logo_-_High_Resolution_white-1](https://blog.azuregroup.com.au/hs-fs/hubfs/April%20-%202019/azure-group_logo_-_High_Resolution_white-1.png?width=387&name=azure-group_logo_-_High_Resolution_white-1.png "azure-group_logo_-_High_Resolution_white-1")](http://www.azuregroup.com.au/) [![azure-group_logo-m](https://blog.azuregroup.com.au/hs-fs/hubfs/April%20-%202019/azure-group_logo-m.png?width=387&name=azure-group_logo-m.png "azure-group_logo-m")](http://www.azuregroup.com.au/) [** **](##) Filter by Category [show all](https://blog.azuregroup.com.au) [ACCOUNTING](https://blog.azuregroup.com.au/topic/accounting) [TAXATION ](https://blog.azuregroup.com.au/topic/taxation) [ADVISORY ](https://blog.azuregroup.com.au/topic/advisory) [TECHNOLOGY ](https://blog.azuregroup.com.au/topic/technology) [INTERNATIONAL ](https://blog.azuregroup.com.au/topic/international-business) [WEALTH ](https://blog.azuregroup.com.au/topic/wealth) [SMART TIPS ](http://azuregroup.com.au/about-us/smart-tips) [CHAMBER](http://azuregroup.com.au/NSW-business-chamber-partnership) [MEDIA](##) Filter by Category ** - [Show All ](http://thoughtmate-1.hs-sites.com/orange-blog) - [ACCOUNTING](https://blog.azuregroup.com.au/topic/accounting) - [TAXATION ](https://blog.azuregroup.com.au/topic/taxation) - [ADVISORY ](https://blog.azuregroup.com.au/topic/advisory) - [TECHNOLOGY ](https://blog.azuregroup.com.au/topic/technology) - [INTERNATIONAL ](https://blog.azuregroup.com.au/topic/international-business) - [WEALTH ](https://blog.azuregroup.com.au/topic/wealth) - [SMART TIPS ](http://azuregroup.com.au/about-us/smart-tips) - [CHAMBER](https://blog.azuregroup.com.au/topic/nsw-business-chamber) - [MEDIA](##) # New Law: Do you have a Whistleblower Policy in place? It comes into effect 1 Jan 2020! ** [Azure Group](https://blog.azuregroup.com.au/author/azure-group) ** Dec 25, 2019 ![new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020-azure-group-blog](https://blog.azuregroup.com.au/hubfs/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020-azure-group-blog.png) From 1 January 2020, certain companies will be required to have a **Whistleblower Policy** that complies with the new section 1317AI of the *Corporations Act 2001 (Corporations Act)*.  As you may be aware, new whistleblower laws came into effect on 1 July 2019 and are covering the corporate, financial and tax sectors. **What is a Whistleblower Policy?** According to ASIC, whistleblowers play an important role in identifying and calling out misconduct and harm to consumers and the community. To encourage whistleblowers to come forward with their concerns and protect them when they do, the *Corporations Act  *gives certain people legal rights and protections as whistleblowers. From 1 July 2019, the whistleblower protections in the Corporations Act have been expanded to provide greater protections for whistleblowers. This will include requiring public companies, large proprietary companies, and corporate trustees of APRA-regulated superannuation entities to have a Whistleblower Policy from 1 January 2020. --- **Who needs to have a Whistleblower Policy by 1 January 2020?** Under the new laws, the following organisations must have a Whistleblower Policy in place by 1 January 2020: 1. Publicly listed companies 2. Proprietary limited companies that are trustees of a registrable superannuation entity 3. Proprietary limited companies that meet two of the following three criteria (including related entities): - consolidated revenue of at least $25 million - consolidated gross assets of at least $12.5 million - at least 50 full-time equivalent employees --- **Hefty fines in the event of the breach** Given the complexity of the new whistleblower legislation and the severe penalties in the event of a breach, many companies are working on preparing Whistleblower Policies now so that they can properly deal with disclosures from 1 January 2020. A failure to have a Whistleblower Policy in place by 1 January 2020 is a strict liability offence and attracts a*** penalty of 60 penalty units, currently: *** - ***$12,600 for an individual *** - ***$63,000 for a corporation***     --- *This article is intended to provide general information only, and is not to be regarded as legal or financial advice. The content is based on current facts, circumstances, and assumptions, and its accuracy may be affected by changes in laws, regulations, or market conditions.  Accordingly, neither Azure Group Pty Ltd nor any member or employee of Azure Group or associated entities, undertakes responsibility arising in any way whatsoever to any persons in respect of this alert or any error or omissions herein, arising through negligence or otherwise howsoever caused. Readers are advised to consult with qualified professionals for advice specific to their situation before taking any action.* ** [Azure Group News](https://blog.azuregroup.com.au/topic/azure-group-news) [** Unwrap Fringe Benefits Tax this festive season! ](https://blog.azuregroup.com.au/taxation/unwrap-fringe-benefits-tax-this-festive-season) [** New Year – Revised Business Strategy: Make yourself an Outsider! ](https://blog.azuregroup.com.au/new-year-new-business-strategy-make-yourself-an-outsider) ### About Author ![Azure Group](https://blog.azuregroup.com.au/hubfs/azure-group%20avatar%20high%20res-small.jpg) Azure Group Azure Group is the leading Chartered Accounting, Business Advisory and Strategic Advisory firm supporting the growth & success of fast growing entrepreneurial businesses. Related Posts [![New $45 million NSW Small Business Grant to cushion the economic impacts of the Southern border closure](https://blog.azuregroup.com.au/hubfs/new-45$-million-nsw-small-business-grant-to-cushion-the-economic-impacts-of-the-southern-border-closure-azure-group-blog.png) New $45 million NSW Small Business Grant to cushion the economic impacts of the Southern border closure ](https://blog.azuregroup.com.au/new-45-million-nsw-small-business-grant-to-cushion-the-economic-impacts-of-the-southern-border-closure) [![JobKeeper Extension: Now is the time to consider what the extension means for your business](https://blog.azuregroup.com.au/hubfs/jobkeeper-extension-now-is-the-time-to-consider-what-the-extension-means-for-your-business.jpg) JobKeeper Extension: Now is the time to consider what the extension means for your business ](https://blog.azuregroup.com.au/jobkeeper-extension-now-is-the-time-to-consider-what-the-extension-means-for-your-business) [![Finding Opportunities in a crisis and how to recover on the other side of COVID-19?](https://blog.azuregroup.com.au/hubfs/finding-opportunities-in-a-crisis-and-how-to-revive-your-business-on-the-other-side-of-covid19.jpg) Finding Opportunities in a crisis and how to recover on the other side of COVID-19? ](https://blog.azuregroup.com.au/coronavirus/finding-opportunities-in-a-crisis-and-how-to-revive-your-business-on-the-other-side-of-covid19) ** - [**](http://www.facebook.com/share.php?u=https://blog.azuregroup.com.au/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020/) - [**](https://twitter.com/share?url=https://blog.azuregroup.com.au/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.azuregroup.com.au/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020/&summary=&source=CeBIT) - [**](https://plus.google.com/share?url=https://blog.azuregroup.com.au/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020/) ### Comment ## Subscribe To Blog ### Subscribe to Email Updates [**](##) 23162 [**](##) 1171 ![7596728c8b90d910009e51f239d1208e](https://blog.azuregroup.com.au/hs-fs/hubfs/April%20-%202019/7596728c8b90d910009e51f239d1208e.png?width=150&name=7596728c8b90d910009e51f239d1208e.png "7596728c8b90d910009e51f239d1208e") [Sydney](http://azuregroup.com.au/contact-us) / [Shanghai](http://azuregroup.com.au/international-business-services/china/shanghai-office-location) [Azure Group Pty Ltd](http://www.azuregroup.com.au/) [Insights](https://blog.azuregroup.com.au) / [Contact Us](http://azuregroup.com.au/contact-us) / [Legal & Privacy](http://azuregroup.com.au/legal-and-privacy) Copyrights © 2024 All Rights Reserved by Azure Group Pty Ltd [** ** ](https://www.facebook.com/AzureGroup/) [** ** ](https://www.linkedin.com/company/the-azure-group/) [** ** ](https://twitter.com/Azure_Group) [** ** ](mailto:ourteam@azuregroup.com.au) [** ** ](tel:+61%202%209238%201188) [** ourteam@azuregroup.com.au](https://blog.azuregroup.com.au/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020#) [** +61-2-9238-1188](https://blog.azuregroup.com.au/new-law-do-you-have-a-whistleblower-policy-in-place-it-comes-into-effect-1-january-2020#)