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Exposure Draft - Executive Remuneration Regulations

Date:

Monday, 16 May 2011

Content ID:

2034

Abstract:

The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 (the Bill) seeks to amend the Corporations Act 2001 to strengthen the regulatory framework relating to the remuneration of company directors and executives, as recommended by the Productivity Commission, as part of its inquiry into Australia’s remuneration regime.

Under the Bill, key management personnel (KMP) and their closely related parties are prohibited from hedging the KMP’s incentive remuneration. The attached Consultation Draft regulations prescribe a non-exhaustive list of arrangements that would, and would not, be considered to be a 'hedge'.

The Bill also contains a number of other regulation making powers, including provision for further types of advice that are, or are not, remuneration recommendations.

Making a submission

Interested parties are invited to comment on the Consultation Draft regulations and explanatory material. 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. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Thursday, 9 June 2011

Address written submissions to:
The General Manager
Corporations and Financial Services Division
The Treasury
Langton Crescent
PARKES ACT 2600
Email: executiveremuneration@treasury.gov.au

For enquiries, please call Ronita Ram (02) 6263 3168 or Richard Chung (02) 6263 2200.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Exposure Draft  82.24kb
Explanatory Commentary  23.61kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Exposure Draft  388.69kb
Explanatory Commentary  54.34kb

Related Items:

Submissions: Exposure Draft - Executive Remuneration Regulations - 27/07/2011
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