Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.60 - APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (MEETINGS AND DOCUMENTS) ACT 2022  

SECTION 1687J   REVIEW OF OPERATION OF LAWS  

1687J(1)    
The Minister must cause a review to be undertaken of the operation of this Act, as in force immediately after the commencement of this section, resulting from the amendments made by:

(a)    Schedule 1 to the Treasury Laws Amendment (2021 Measures No. 1) Act 2021 ; and

(b)    the Corporations Amendment (Meetings and Documents) Act 2022 .

1687J(2)    
The review must be conducted no later than the earliest practicable day after the end of 2 years after the commencement of Schedule 1 to the Corporations Amendment (Meetings and Documents) Act 2022 .

Note: Paragraphs 249R(c) and 252P(c) of this Act (as inserted by Schedule 2 to the Corporations Amendment (Meetings and Documents) Act 2022 ) cease to apply if a report is not prepared and tabled within a certain period: see section 1687K .

1687J(2A)    
The review, to the extent that it relates to sections 249R and 252P of this Act, must be conducted by an independent panel, with:

(a)    at least one member of the panel having experience in corporate governance and the role of company directors; and

(b)    at least one member of the panel having experience advocating for corporate social responsibility; and

(c)    at least one member of the panel having experience representing the interests of shareholders.

1687J(3)    
The Minister must cause one or more written reports about the review to be prepared.

1687J(4)    
If there is more than one report under subsection (3) , each of those reports need not deal with the operation of all the amendments mentioned in subsection (1) . However, the reports as a whole must deal with all of those amendments.

1687J(5)    
The Minister must cause a copy of a report under subsection (3) to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.

1687J(6)    
If a report under subsection (3) sets out recommendations, the Minister must cause:

(a)    a written response of the Commonwealth Government to the recommendations to be prepared; and

(b)    the response to be tabled in each House of the Parliament no later than the first sitting day of that House occurring 3 months or more after the day the report is first tabled in either House of the Parliament under subsection (5) .