Coronavirus (COVID-19) updates from the Australian Government

Corporations Legislation Amendment (Deregulatory and Other Measures) Bill 2014

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

Key Documents

The draft Bill is a package of repeal and streamlining amendments to the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001; to reduce compliance costs for business. Its net impact on business is expected to be deregulatory. The proposed amendments in the draft Bill:

  • remove of the obligation to hold a general meeting on the request of 100 shareholders;
  • improve the disclosure of executive remuneration in Australia;
  • relieve certain disclosing entities from the obligation to prepare a remuneration report;
  • increase the flexibility of companies to pay dividends;
  • remove the requirement for auditor appointment for certain companies limited by guarantee;
  • extend the Remuneration Tribunal’s remuneration setting responsibility to certain Corporations Act bodies; and
  • improve the efficiency of the Takeovers Panel.

This draft Bill relates to the Press Release by the Acting Assistant Treasurer on 10 April 2014.

There will be a five week consultation period, and submissions close on 16 May 2014.

Submissions

23 submissions were received for this consultation.

Deloitte - pdf 541.42 KB
Ernst & Young - pdf 63.46 KB
Ernst & Young - rtf 322.49 KB
Group of 100 (G100) - pdf 54.89 KB
Guerdon Associates - pdf 490.03 KB
IAG - pdf 61.89 KB
KPMG - pdf 854.83 KB
Nehme, Ms Marina - rtf 120.69 KB
Nehme, Ms Marina - pdf 299.01 KB
Ownership Matters - pdf 126.25 KB
Reilly, Mr Keith - pdf 150.23 KB
Reilly, Mr Keith - rtf 98.09 KB
Sarina Community Bank - pdf 309.84 KB
Telstra - pdf 42.47 KB
The Tax Institute - pdf 98.59 KB