Assembly Panel Approves Introduction of Punitive Damages

Write : 2017-02-25 13:22:06 Update : 2017-02-25 14:07:04

Assembly Panel Approves Introduction of Punitive Damages

A parliamentary committee has approved revised bills on introducing punitive damages related to illegal acts perpetrated by corporations.
 
The National Assembly's Policy Committee held a plenary meeting Friday and approved revisions to two laws.
 
The revised Product Liability Act obligates manufacturers who failed to take measures after discovering a defect to compensate as much as three times the damage the product inflicted on consumer lives or health.
 
Also under the law, suppliers including distribution firms are responsible for damages when they fail to tell the victims who the manufacturer is. 


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