Insights

2012 AGM Season Survey Results

At the conclusion of the 2012 AGM season, we conducted a survey of the business of AGMs of ASX listed companies in 2012 on a similar basis to our surveys of the 2010 and 2011 AGM...

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CAMAC discussion paper on The AGM and Shareholder Engagement

The Companies and Markets Advisory Committee recently issued a Discussion Paper on The AGM and Shareholder Engagement, following a reference from the Parliamentary Secretary to the Treasurer in...

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New 10% placement rule for small to mid caps and changes to admission requirements

From 1 August 2012, ASX has amended the ASX listing rules to make it easier for small to mid cap entities to raise capital by allowing them to place an additional 10% of their capital in a 12 month...

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ICANN releases applications for new top level domain program

On 13 June 2012 the Internet Corporation for Assigned Names and Numbers (ICANN) released a list of the applications it has received for new top level...

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Commercially sensitive information - beware of s275, Personal Property Securities Act

The confidentiality of commercially sensitive information can be jeopardised by the operation of s 275 of the PPSA. If any document contains provisions which constitute a "security interest" for the

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Is ASIC's benchmark disclosure merely regulating disclosure? If not, why not?

ASIC is increasingly requiring offer documents for particular types of products to include disclosure on particular benchmarks. While this may, in some cases, result in improved disclosure, the

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ACCC announces year's priorities

The Chairman of the Australian Competition and Consumer Commission, Rod Sims, has recently announced the Commission's key goals for 2012 and outlined the five 'high level objectives

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New national business names register

On 28 May 2012 (subject to the passage of legislation through State parliaments), a new national business names register will commence, allowing businesses to register their name nationally through...

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Disclosing non-IFRS financial information

On 12 December 2011, the Australian Securities and Investments Commission published guidance Regulatory Guide 230...on the use of financial information prepared other than in accordance with...

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Treasury proposed amendments to dividend provisions

On 28 November 2011, Treasury issued a Discussion Paper in response to, among other things, concerns about the new dividend provisions inserted into the Corporations Act by the Corporations

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FOFA: Exposure Draft of Corporations Amendment

On 29 August 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation released an Exposure Draft of the Corporations Amendment (Future of Financial Advice) Bill...

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Exposure Draft - Corporations Amendment Bill 2011

In our December 2010 issue of Acumen, we published an article summarising the Exposure Draft - Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 and...

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Are you prepared for new laws set to affect executive remuneration practices?

The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 was introduced before Parliament on 23 February 2011. As the debate on the Bill was adjourned...

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Consultation Paper 155: ASIC'S proposed new guidance on prospectuses

On 12 April ASIC issued a Consultation Paper and draft Regulatory Guide concerning new proposals to give guidance on the ...clear, concise and effective... requirement for prospectuses, as well as...

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FOFA: Wholesale v Retail Options Paper

In January 2011, Treasury released an Options Paper on the wholesale v retail client distinction, as part of the Future of Financial Advice (or FOFA...

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Revised ASIC guidance on related party transactions and experts

On 30 March 2011, the Australian Securities and Investments Commission issued updated Regulatory Guides on Related party transactions (RG 76), Content of expert reports (RG 111) and Independence of...

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What is a 'real risk of forfeiture' or a 'genuine restriction on disposal' under the new employee sh

The new employee share scheme (ESS) provisions, contained in Division 83A of the Income Tax Assessment Act 1997 (Cth) (1997 Act), apply from...

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Executive remuneration Exposure Draft Bill and Discussion Paper

On 20 December 2010, the Parliamentary Secretary to the Treasurer released an Exposure Draft Bill dealing primarily with remuneration, along with a discussion paper on a proposal to clawback...

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Insights from the James Hardie appeals

The decisions of the New South Wales Court of Appeal in Morley & Others v ASIC [2010] NSWCA 331 (Morley) and James Hardie Industries NV v ASIC [2010] NSWCA 332 (JHINV) are perhaps not as...

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Parliamentary secretary flags reforms to executive remuneration

In a speech to the Australasian Investor Relations Association Conference on 26 November 2010, Parliamentary Secretary to the Treasurer, David Bradbury indicated that he proposed "in the coming...

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Directors and the expectation gap

The Australian Institute of Company Directors' survey published earlier this month, suggesting that directors' commercial decision making, even their willingness to serve, is diminished by personal...

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The Corporate Adviser - October 2010

Following the conclusion of the 2010 reporting season for many, and as the practical implications from the amendments to termination benefits laws, ASX Listing Rules and Corporate Governance...

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New Dividend Payment Rules

From 28 June 2010, the law relating to the payment of dividends by companies has changed, including the replacement of the traditional "profits test" for determining whether a company can pay a

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ASX Listing Rule Amendments: governance issues, dividend announcements and share purchase plans

ASX has amended several Listing Rules; this article reviews the amendments and how they relate to listed...

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