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ARTICLE · 20 OCTOBER 2008

Draft Short Selling Bill Released

Minter Ellison
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On 23 September 2008, Treasury released an exposure draft on the Australian Government's Corporations Amendment (Short Selling) Bill 2008 (Bill) which requires the disclosure of covered short sales transactions on Australian financial markets.

AustraliaFinance and Banking
Richard Batten
Richard Batten

On 23 September 2008, Treasury released an exposure draft on the Australian Government's Corporations Amendment (Short Selling) Bill 2008 (Bill) which requires the disclosure of covered short sales transactions on Australian financial markets. Submissions on the Bill must be made to Treasury by 21 October 2008.

The Bill, which builds on the Australian Securities and Investments Commission (ASIC) interim reporting requirements for covered short sales on a listed market (see ASIC CO 08/751) proposes to introduce disclosure requirements for covered short sale transactions, which are not currently caught by the disclosure obligations under section 1020B(5) of the Australian Corporations Act.

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