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Bills of previous Parliaments

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Corporations Amendment (Improving Accountability on Termination Payments) Bill 2009


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the Corporations Act 2001 to: lower the threshold at which termination payments to company executives (including senior executives or key management personnel) must be approved by shareholders; specify the types of benefits which are subject to shareholder approval; require unauthorised termination benefits to be repaid immediately; provide that retiree shareholders cannot participate in a vote on their termination benefit (except as a proxy); and increase the penalties applicable to unauthorised termination benefits.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 24/06/09  
Second reading moved 24/06/09  
Second reading debate 09/09/09  
Second reading agreed to 09/09/09  
Third reading agreed to 09/09/09  
     
Senate
Introduced and read a first time 10/09/09  
Second reading moved 10/09/09  
Second reading debate 17/09/09  
Second reading agreed to 26/10/09  
Committee of the Whole debate 26/10/09 Amendment details: 1 Independent (Xenophon) agreed to
Third reading agreed to 26/10/09  
     
House of Representatives
Message from Senate reported 27/10/09  
Consideration of Senate message 29/10/09 Details: House disagreed to Senate amendment
     
Senate
Message from House of Reps reported 29/10/09  
Consideration of House of Reps message 16/11/09 Details: Senate did not insist on its amendment
     
Text of bill as passed both Houses 16/11/09  
Assent 23/11/09 Act no.: 115 - Year: 2009
     

Text of bill

  • First reading

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  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

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Second reading speeches


Proposed amendments

House of Representatives
  • Non-Government
PEARCE, Christopher, MP

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Senate
  • Australian Greens [sheet 5858 revised]
BROWN, Sen Bob

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  • Family First Party [sheet 5926]
FIELDING, Sen Steve

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  • Independent [sheet 5890]
XENOPHON, Sen Nick

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  • Opposition [sheet 5920]
COONAN, Sen Helen

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Schedules of amendments

  • Schedule of the amendment made by the Senate

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  • Schedule of the amendment made by the Senate to which the House of Representatives has disagreed

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Bills Digest



Notes
  • Referred to Committee (25/06/2009): Senate Economics Legislation Committee
  • Committee report (07/09/2009)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )