Exercise of Undirected Proxies by a Meeting Chairman on Remuneration Issues

• Date:29 Jun 2011
• Type:Policy Submission

This submission to the Hon David Bradbury MP expresses concerns regarding a drafting issue with the Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 (the Bill).

The drafting issue relates to the ability of a meeting chair to exercise undirected proxies in respect of an advisory vote on a remuneration report and any related board spill resolution.

We asked the Government to re-examine the relevant sections of the Bill with a view to ensuring the intention of the Bill is given effect, the compliance burden for companies is minimised, and companies preparing for annual general meetings are provided with greater certainty.

Download our submission to the Hon David Bradbury MP on the Exercise of Undirected Proxies by a Meeting Chairman on Remuneration Issues (PDF 525 KB)