The Corporations Legislation Amendment (Remuneration Disclosures and Other Measures) Bill 2012

Articles Written by Erin O'Connor, Denise Yeoh

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.

Important Disclaimer: The material contained in this article is comment of a general nature only and is not and nor is it intended to be advice on any specific professional matter. In that the effectiveness or accuracy of any professional advice depends upon the particular circumstances of each case, neither the firm nor any individual author accepts any responsibility whatsoever for any acts or omissions resulting from reliance upon the content of any articles. Before acting on the basis of any material contained in this publication, we recommend that you consult your professional adviser. Liability limited by a scheme approved under Professional Standards Legislation (Australia-wide except in Tasmania).

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