NSW Set to Reform Class Action Laws

In a media release dated 6 August 2010 the NSW Government announced plans to introduce new laws to clarify rules surrounding class actions. In a recent article posted to Mondaq by Graham Maher of Truman Hoyle it was pointed out that the new class action proposals should ring some alarm bells for business.

"The NSW Attorney-General has this month announced plans to introduce new class action laws which will give the NSW Supreme Court the power to order that unclaimed damages awarded in class actions be paid to a public interest beneficiary which is not a party to, or represented in, the proceedings.

While a draft of these laws is not yet available, the proposals raise a number of important legal issues and practical concerns for business."

Do you agree?