Law360, New York ( December 8, 2015, 2:47 PM EST) -- Last week, the government of Australia released an "exposure draft" of a bill that, if passed into law, would amend Australia's Privacy Act to require notification to the government and affected individuals in the event of a data breach. Currently, although Australian law requires government agencies and businesses subject to the Privacy Act to take reasonable steps to protect personal information, it does not mandate notification following a data breach. The proposed Australian law requires notification only in the event of a "serious data breach," which is defined as unauthorized access to, or disclosure/loss of, personal and certain other information that results in a "real risk of serious harm" to any of the individuals to whom the information relates....