Coronavirus (COVID-19) updates from the Australian Government

Corporations Amendments – Improving disclosure requirements

This consultation process has now been completed. Submissions available
Date
-
Consultation Type
Exposure Draft

Key Documents

The draft Bill contains measures to enhance the disclosure of executive remuneration in Australia.  It implements many of the recommendations made by the Corporations and Markets Advisory Committee (CAMAC) in its 2011 inquiry into executive remuneration in Australia.

Together with the 'two-strikes' reform that was enacted in 2011, it strengthens Australia's corporate governance framework, including matters in relation to the remuneration of Key Management Personnel (KMP).

The Bill also includes a number of other measures that:

  • Require companies to disclose their clawback policy in the event of material misstatement.
  • Increases the flexibility of companies to pay dividends.
  • Removes inconsistencies in auditor appointment.
  • Improves consistency of remuneration setting for accounting boards, under the Australian Securities and Investments Commission Act 2001.

Submissions

39 submissions were received for this consultation, including 2 confidential submissions.

AASB - pdf 147.85 KB
ABA - pdf 112.09 KB
ACSI - pdf 469.54 KB
AICD - pdf 4.6 MB
ASX - pdf 131.37 KB
BDO - pdf 152.94 KB
BHP Billiton - pdf 219.86 KB
Black Rock - pdf 81.69 KB
CGI Glass Lewis - pdf 226.75 KB
CSA - pdf 138.65 KB
Deloitte - pdf 8.98 MB
DH Flinders - pdf 114.74 KB
Egan Associates - pdf 147.91 KB
Ernst and Young - pdf 3.85 MB
FSC - pdf 510.22 KB
Grant Thornton - pdf 152.55 KB
GRG - pdf 261.65 KB
Herbert Smith Freehills - pdf 233.19 KB
ICAA CPA - pdf 238.19 KB
JWS Consulting - pdf 175.78 KB
KPMG - pdf 135.62 KB
LCA Business Law Section - pdf 315.89 KB
LIV - pdf 195.59 KB
Macquarie Group - pdf 42.95 KB
Mercer - pdf 70.39 KB
Origin - pdf 934.07 KB
Ownership Matters - pdf 129.42 KB
Pitcher Partners - pdf 226.65 KB
PwC - pdf 146.05 KB
Regnan - pdf 471.71 KB
Telstra - pdf 35.97 KB