The Parliamentary Secretary released an Exposure Draft - Corporations Legislation Amendment (Remuneration Disclosures and Other Measures) Bill 2012 and the associated Explanatory Memorandum to the Treasury on 14 December 2012. Submissions on the Exposure Draft were due on 15 March 2013.
The changes will see several recommendations made by the Government's Corporations and Markets Advisory Committee (CAMAC) in its 2011 inquiry into executive remuneration being implemented.
This article sets out an overview of the key proposals under the draft Bill, focussing on the governance and remuneration aspects of the proposed changes. Topics discussed include dividend tests, clawback, and remuneration report disclosures.
Usually who serves on the board of a listed company is a matter for the company itself and others, including the courts, only rarely intervene. That’s why the Takeovers Panel’s order requiring...
A Concise Statement released by the Office of the Australian Information Commissioner (OAIC) this week provides important insights into the OAIC’s security expectations in relation to large...