Senator COOK (6:44 PM) —That assuages one of my concerns. We are sympathetic to this amendment, although we will not vote for it tonight. If the government will refer it to the Joint Parliamentary Committee on Corporations and Securities for consideration within the CLERP review, which is what I understand the parliamentary secretary to have said—he has just nodded in the affirmative; he has said that—then we will be satisfied that the virtuous parts of this amendment can be considered in that proper context. We support the government and oppose the amendment.

Amendment not agreed to.

The TEMPORARY CHAIRMAN (Senator Murphy) —We now move to opposition amendment 4, sheet 1055.

Amendment (by Senator Cook)—proposed:

(4) Page 104 (after line 4), after section 251A, insert:

251AA Disclosure of proxy votes—listed companies

(1) A company must record in the minutes of a meeting, in respect of each resolution in the notice of meeting, the total number of proxy votes exercisable by all proxies validly appointed and:

(a) if the resolution is decided by a show of hands—the total number of proxy votes in respect of which the appointments specified that:

(i) the proxy is to vote for the resolution; and

(ii) the proxy is to vote against the resolution; and

(iii) the proxy is to abstain on the resolution; and

(iv) the proxy may vote at the proxy's discretion; and

(b) if the resolution is decided on a poll—the information specified in paragraph (a) and the total number of votes cast on the poll:

(i) in favour of the resolution; and

(ii) against the resolution; and

(iii) abstaining on the resolution.

(2) A company that must notify the Exchange of a resolution passed by members at a meeting of the company must, at the same time, give the Exchange the information specified in subsection (1).

(3) This section applies only to a company that is:

(a) incorporated in Australia; and

(b) included in an official list of the Exchange.

(4) This section applies despite anything in the company's constitution.