23 March 2015
G100’s submission to the Assistant Treasurer on the “Cutting Red Tape” Corporations Law Amendments.
The Hon Josh Frydenberg MP
CANBERRA ACT 2600
Dear Minister Frydenberg
Corporations Law Amendments
The Group of 100 (G100) is an organization of chief financial officers from Australia’s largest business enterprises with the purpose of advancing Australia’s financial competitiveness.
We congratulate you on your appointment as Assistant Treasurer and look forward to continuing the relationship we developed as part of the ‘Cutting Red Tape’ initiative.
The purpose of this letter is to express the G100’s appreciation and support for the passage of the Corporations Legislation Amendment (Deregulation and other Measures) Bill 2014. In particular, we welcome the withdrawal of the “100 member rule” which will reduce costs and the administrative burdens on companies and the improvements to remuneration reporting.
The G100 considers that further work is needed to streamline the requirements for the remuneration report to provide more meaningful and understandable information to shareholders and others.
The G100 is prepared to assist in the development of an enhanced remuneration report.
Group of 100 Inc