Senator COONAN (1:38 PM) —We are of the view that the arrangements in the Corporations Amendment (Improving Accountability on Termination Payments) Bill 2009 on resolutions of general meetings are sufficient to determine what a termination payment is for and what it is not for. The level of transparency regarding such payments to executives and directors is appropriate. Companies will be required to disclose that a termination payment has triggered a shareholder vote and will therefore require a decision. Once again, we think that the bill’s provisions provide a good level of transparency and guidance for shareholders when making those sorts of determinations.

Question negatived.