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ARTICLE · 08 JULY 2011

Executive Remuneration: CAMAC Reports

Holding Redlich
Holding Redlich
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Holding Redlich

Holding Redlich

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Discusses the report recently released by CAMAC on executive remuneration.

AustraliaCorporate/Commercial Law
Darren Pereira
Darren Pereira
Dan Pearce
Dan Pearce
Philip Vickery (Formerly With Holding Redlich)
Philip Vickery (Formerly With Holding Redlich)
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The Corporations and Market Advisory Committee (CAMAC) recently released its report regarding executive remuneration (Report). The Report was prepared in response to the Productivity Commission's Report on Executive Remuneration in Australia (December 2009), which was released in the aftermath of the global financial crisis at a time when executive remuneration was attracting intense public scrutiny.

The Report specifically addresses requests that the then Minister for Financial Services, Superannuation and Corporate Law, the Honourable Chris Bowen MP put to CAMAC for its consideration. These were for CAMAC to:

  • consider potential ways in which the existing legislative framework regarding executive remuneration under the Corporations Act 2001 (Cth) (Act) and the Corporations Regulation 2M.3.03 can be revised to "reduce its complexity and more effectively meet the needs of shareholders and companies"; and

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