The Year 2000 Information Disclosure Bill is due to be introduced to federal parliament today, a spokesman for Richard Alston, Minister for Communications, Information Technology and the Arts, has confirmed.
Modelled on the US Year 2000 Information Readiness Disclosure Act, which was passed last year and which became popularly known as the good Samaritan law, the bill provides limited liability protection to companies and persons making Y2K disclosure statements.
Disclosure statements must be clearly identified as such and made in good faith to be covered by the bill.
"By making it easier for companies to provide information about their Y2K readiness, this bill should significantly boost efforts to check supply chains and should help larger companies - such as banks - assist their smaller business customers," Alston said.
The federal government hopes the bill will become law by the end of this month.
It will offer protection until June 30, 2001.