Ardent Leisure has been charged with three counts of failing to comply with health and safety legislation and exposing individuals to a risk of serious injury or death.

However, the Dreamworld executives responsible for the park's safety escaped individual prosecution after the tourists died on October 25, 2016 when they were thrown into the mechanism of the Thunder River Rapids ride.

Queensland's Work Health and Safety prosecutor on Tuesday filed three charges against Ardent Leisure Limited under the Work Health and Safety Act 2011.

Prosecutor Aaron Guilfoyle alleges Ardent Leisure failed to provide and maintain safe plant and structures and systems of work.

The company also allegedly failed to provide information, training, instruction or supervision necessary to protect people from risk.

In February, coroner James McDougall referred Ardent Leisure to the Office of Industrial Relations, saying there was a "systemic failure" at Dreamworld in all aspects of safety.

The inquest also found there had been no thorough engineering risk assessment of the Thunder River Rapids in the 30 years it was open to the public.

Dreamworld presented itself as a modern, world-class theme park, but its "frighteningly unsophisticated" safety procedures were "rudimentary at best", he said while delivering the inquest findings.

Cindy Low, Kate Goodchild, her brother Luke Dorsett and his partner Roozi Araghi were killed when a water pump on the famous ride malfunctioned, causing water levels to fall dangerously low.

Their raft collided with another after becoming stuck in the low water and partially flipping, flinging the group into the mechanised conveyor that moved the rafts.

The malfunction was the third that day and the fifth in a week, and no automated shutdown function was installed despite recommendations.

Ms Goodchild's 12-year-old daughter and Ms Low's 10-year-old son survived the incident.

"We again express our deepest sympathies to the families and friends of (Ms Low, Ms Goodchild, Mr Dorsett and Mr Araghi) for their loss and ongoing suffering and say sorry to all of the people impacted by this tragedy," Ardent Leisure said in a statement on Tuesday.

The company said it had worked hard to improve the park's safety since the tragedy, in accordance with the Queensland Government's new major amusement park safety regulations.

"The new leadership team is committed to continuing to improve and enhance safety systems and practices with the aim of becoming a global industry leader in theme park safety and operations."

Industrial Relations Minister Grace Grace said the charges were the maximum available to the Work Health and Safety Prosecutor under the legislation.

"I'm very supportive of his swift action in relation to this. It was a recommendation from the coroner to the independent health and safety prosecutor ... we await the outcome for the courts," she told reporters.

Each charge carries a maximum penalty of $1.5 million.

The matter will be mentioned in the Southport Magistrates Court on July 29.

Australian Associated Press