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Wednesday, 24 October 1984
Page: 2415

(Question No. 1130)


Senator Watson asked the Minister representing the Special Minister of State, upon notice, on 10 September 1984:

Is it the intention of the Government, following the release of draft amendments to schedule 7 of the Companies Act whereby directors of public companies will be forced to divulge total remuneration including 'perks', to make senior officers of statutory corporations similarly divulge their total remuneration.


Senator Gareth Evans —The Special Minister of State has supplied the following answer to the honourable senator's question:

Following consideration by the National Companies and Securities Commission of existing arrangements for the disclosure of directors' emoluments and the remuneration of senior executives of companies, proposed amendments to schedule 7 of the Companies Regulations will be circulated for public comment next year. These amendments, if implemented, would require an extension to the arrangements for the disclosure of directors' emoluments and senior executives' remuneration and of retirement and similar benefits.

Details of the total remuneration payable to holders of public offices including the most senior officers of statutory corporations are contained in determinations of the Remuneration Tribunal which are tabled in the Parliament. Retirement benefits are payable to the extent provided by legislation.