Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Act 2011 - Australia

Chartered Secretaries Australia (CSA) has been asked by the Australian Securities & Investments Commission (ASIC) to develop guidelines on managing voting exclusions, given the changed regulatory framework. KMP will need guidance on voting restrictions, as KMP, and not the company, are personally liable and could be criminally liable for any transgressions.

CSA’s Guidelines on managing voting exclusions on remuneration-related resolutions have been designed to assist companies to manage these voting restrictions. CSA’s aim in developing these guidelines is to assist companies to maintain integrity in the voting process by focusing the attention of all those who are involved in compliance with their regulatory obligations and setting out steps that companies can consider establishing to appropriately manage voting exclusions ...  READ MORE Presented by CSA Australia - 10 November 2011.