Inquiry into the Exposure Draft of the Corporations
Amendment Bill (No 2) 2005
Terms of Reference
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On 9 February 2005, the Parliamentary Joint Committee on Corporations and Financial Services resolved to inquire into the Exposure Draft of the Corporations Amendment Bill (No.2) 2005. The Exposure Draft Bill seeks to amend the Corporations Act 2001. It is intended to facilitate increased shareholder participation in corporate governance, while reducing the costs of such participation. Specifically, it proposes changes to the '100-member' rule for calling meetings, and changes to proxy voting.
The Committee will consider:
- the need for the proposed amendments;
- the impact of the proposed amendments on corporate governance;
- the impact on shareholder participation of the Bill, including proposed amendments to the '100-member' rule;
- the impact of the proposed amendments to rules for proxy voting;
- possible alternative approaches; and
- any related matter.
The Exposure Draft Bill and Explanatory Memorandum can be found on the Department of the Treasury's website at www.treasury.gov.au
The Committee will report on the inquiry by 23 June 2005.
Written submissions are invited and should be addressed to:
The Secretary
Parliamentary Joint Committee on Corporations
and Financial Services
Department of the Senate
Parliament
House
Canberra ACT 2600
The closing date for submissions 8 April 2005.
The Committee prefers to receive submissions electronically as an
attached document - email:
corporations.joint@aph.gov.au.
Submissions become Committee documents and are made public only after a
decision by the Committee. Persons making submissions must not
release them with the approval of the Committee. Submissions are
covered by parliamentary privilege but the unauthorised release of them is
not.
Following consideration of submissions, the Committee will hold public
hearings. The committee will consider all submissions and may invite
individuals and organisations to give evidence at the public hearings.
Special access and other arrangements will be made if prior notice is
given.
Information relating to inquiries by parliamentary committees,
including notes to assist in the preparation of submission for a
committee, can be located on the internet at: http://www.aph.gov.au/senate/committee/wit_sub/index.htm
Inquiries from hearing and speech impaired people should be directed to the Parliament House TTY number (02) 6277 7799. Adobe also provides tools for the blind and visually impaired to access PDF documents. These tools are available at: http://access.adobe.com/. If you require any special arrangements in order to enable you to participate in a committee inquiry, please contact the committee secretary.
For further information, contact
Committee Secretary
Parliamentary Joint Committee on Corporations
and Financial Services
Parliament
House
Canberra ACT 2600
Australia
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