We believe that our presentations to you to
day and our written submission clearly show four things: First, there are serious problems created by the principle of joint and several liability; second, there
has been a thorough analysis and review of various options to address this problems; third, proportionate liability provides a simple and equitable solution to the liability crisis that is being caused by the application of joint and several liability; and fourth, action is required now to
...[+++] implement this solution in the current round of amendments to the CBCA and financial institutions legislation.