Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Bill 2004

Summary

Introduced with the Corporations (Fees) Amendment Bill (No. 2) 2003, the bill amends the: Australian Securities and Investments Commission Act 2001 and Corporations Act 2001 in relation to audit oversight and auditor independence; financial reporting; classes of officers, senior managers and employees; Australian Securities and Investments Commission Act 2001, Corporations Act 2001 and Trade Practices Act 1974 to implement proportionate liability in respect of economic loss or damage to property; Corporations Act 2001 in relation to: enforcement arrangements in the event of corporate misbehaviour; remuneration of directors and executives; continuous disclosure and infringements; disclosure rules; shareholder participation and information; conflicts of interest of financial services licensees. Also contains application and transitional provisions.

Progress

House of Representatives
Introduced and read a first time	04 Dec 2003
Second reading moved	04 Dec 2003
Second reading agreed to	16 Feb 2004
Third reading agreed to	16 Feb 2004

Senate
Introduced and read a first time	01 Mar 2004
Second reading moved	01 Mar 2004
Second reading agreed to	16 Jun 2004
Committee of the Whole debate Amendment details: 96 Government, 35 Opposition and 2 Australian Democrats agreed to	17 Jun 2004
Committee of the Whole debate Amendment details: 2 Government and 11 Australian Democrats agreed to	21 Jun 2004
Committee of the Whole debate Amendment details: 53 Government and 26 Opposition agreed to	22 Jun 2004
Third reading agreed to	22 Jun 2004

House of Representatives
Consideration of Senate message Details: House agreed to Senate amendments 1-11, 21-27, 35, 37-42, 45-84, 87-90, 93-107, 111-113, 120-126, 128, 129, 131-133, 136, 148-153, 179-222, 224 and disagreed to 12-20, 28-34, 36, 43, 44, 85, 86, 91, 92, 108-110, 114-119, 127, 130, 134, 135, 137-147, 154-178, 223 and 225	23 Jun 2004

Senate
Consideration of House of Reps message Details: Senate did not insist on amendments disagreed to and made 12 further Australian Democrats/Opposition amendments	24 Jun 2004

House of Representatives
Consideration of Senate message Details: House agreed to further Senate amendments	25 Jun 2004


Assent Act no.: 103 Year: 2004	30 Jun 2004

Documents and transcripts

Text of bill

First reading

Explanatory memoranda

Explanatory memorandum

Supplementary explanatory memorandum

Transcript of speeches

Proposed amendments

Senate

Australian Democrats [sheet 4214 revised]
MURRAY, Andrew

Australian Democrats [sheet 4256]
MURRAY, Andrew

Government [sheet PK247]

Opposition [sheet 4259 revised]
CONROY, Sen Stephen

Opposition [sheet 4280]
CONROY, Sen Stephen

Opposition [sheet 4261]
CONROY, Sen Stephen

Opposition [sheet 4216 revised]
CONROY, Sen Stephen

Opposition [sheet 4216]
CONROY, Sen Stephen

Opposition/Australian Democrats [sheet 4326]
CONROY, Sen Stephen
MURRAY, Andrew

Opposition/Australian Democrats [sheet 4325]
CONROY, Sen Stephen
MURRAY, Andrew

Opposition/Australian Democrats [sheet 4324]
CONROY, Sen Stephen
MURRAY, Andrew

Opposition/Australian Democrats [sheet 4323]
CONROY, Sen Stephen
MURRAY, Andrew

Schedules of amendments

Schedule of the amendments made by the Senate

Schedule of the further amendments made by the Senate

Bills digest

Bills Digest

Notes

An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.