Posted by & filed under Financial Reporting.

22 June 2016
The Manager
Corporations and Schemes Unit
Financial Systems Division
The Treasury
Langton Crescent
PARKES ACT 2600

Email corporations.amendments@treasury.gov.au

Dear Sir/Madam

Technology neutrality in distributing company meeting notices and materials

The Group of 100 (G100) is the pre-eminent voice for CFOs in Australia with the purpose of creating better businesses for tomorrow. We are pleased to respond to the Proposal Paper.

The G100 strongly supports proposals for a technology-neutral approach to regulation as it has the potential to contribute to a significant reduction in compliance and business costs. We also consider that such an approach is consistent with the Governments’ “Cutting Red Tape” initiatives.

The G100 considers that the proposed framework will provide an effective mechanism for informing shareholders of their rights and provide them with sufficient opportunity to select the distribution method which best suits their needs. The proposed framework will provide flexibility for both companies and their shareholders which would contribute to a reduction in costs and reduce the timeline in communications with shareholders.

We believe that for the full benefits of technological neutrality to be achieved the flexibility that the proposal would introduce should be available for all company communications.

Sincerely
Group of 100 Inc

Zlatko Todorcevski
President

 

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