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Corporations Legislation Amendment (Deregulatory and Other Measures) Bill 2014

10 April 2014 | Exposure Draft

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 closed on Friday 16 May 2014

Key Documents

Submissions

19 submissions were received for this consultation.

Ref ID: {425F8EED-50E9-4568-89F9-E197B8473005}
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