Exposure Draft: Corporations Amendment (Improving Accountability on Termination Payments) Bill 2009

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The Minister for Superannuation and Corporate Law has released an exposure draft of the Corporations Amendment (Improving Accountability on Termination Payments) Bill 2009, associated regulations and draft commentary to explain the amendments. The Bill strengthens the regulatory framework relating to the payment of termination benefits to company directors and executives.

The Government is seeking written submissions on the exposure draft legislation by close of business Tuesday 2 June 2009.

Interested parties are invited to comment on the paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence, should provide this information marked as such in a separate attachment. A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Tuesday, 2 June 2009

Address written submissions to:
Manager
Corporate Reporting and Accountability Unit
Corporations and Financial Services Division
The Treasury
Langton Crescent
PARKES  ACT  2600

Email: terminationbenefits@treasury.gov.au.

For inquiries, please call Bede Fraser (02) 6263 3312 or Ronita Ram (02) 6263 3168.

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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