17# (#; # per million inhabitants) Source: Australian Conservation Foundation (2004) Submission to Treasury on CLERP
(Audit Reform and Corporate Disclosure) 2003 Notes: The table compares reporting requirements for publicity listed companies.
It is worth noting that the original CLERP
The authors refer to Joanna Bird, The Ditty of Care and the CLERP
Reforms, 17 COMPANY & SEC.
39) See, eg, CLERP
4, above n 4, 7-8; Jonathan Farrer, 'Reforming Australia's Takeover Defence Laws: What Role for Target Directors?
Following consultations with the business community and other interested parties, the Government introduced the CLERP
Bill into Parliament on 2 July 1998.
Just as important, the recently-enacted CLERP
9 Act mandates aggressive reform of corporate financial structures.
Since the commencement of the CLERP
Act, civil penalties and criminal prosecutions are no longer mutually exclusive sanctions.
Features of CLERP
were already discussed in last year's OECD Economic Survey of Australia in the context of Corporate Governance (Chapter IV) and Entrepreneurship (Chapter V).
Further changes were effected to Australian corporations law by the first wave of CLERP
reforms in the Corporate Law Economic Reform Program Act 1999 (Cth).
The Government's CLERP
paper "Directors' Duties and Corporate Governance" (the Director's Duties paper) recommends continuous monitoring of corporate governance practices by the ASX, relevant industry and professional bodies, investors and Government.
no benefits awarded fell outside the thresholds due to the combined operation of ss 200F(1) and 1468(2) of the Corporations Act--these provisions relate, respectively, to agreements made prior to 1 January 1991 and to those that did not come into effect before 1 July 2004, the date on which the amendments to the Corporations Act contained in the CLERP
9 Act commenced.
8 proposes enacting the UNCITRAL Model Law as a separate enactment of the Commonwealth Parliament.