Corporations Amendment Regulations 2004 (No. 7) (208 of 2004)

Schedule 1   Amendments

[2]   Chapter 2M, before Part 2M.4

insert

Part 2M.3 Financial reporting

Division 1 Annual financial reports and directors' reports

2M.3.03 Prescribed details (Act s 300A)

(1) For paragraph 300A (1) (c) of the Act, the following details about a person's remuneration are prescribed:

(a) the person's name;

(b) each position held by the person in the financial year;

(c) if the person has held a position mentioned in paragraph (b) for less than the whole financial year, the date when the person began holding the position and the date (if any) when the person ceased to hold the position;

(d) the details mentioned in paragraph 7.1 of the accounting standard for the financial year.

(2) For paragraph 300A (1) (c) of the Act, the following details relevant to a person's remuneration are prescribed:

(a) the person's name;

(b) the details mentioned in the following paragraphs of the accounting standard for the financial year:

(i) paragraph 7.5 (d) (iv);

(ii) if there has been an alteration mentioned in paragraph 7.6 - paragraph 7.6;

(c) for each bonus or grant mentioned in paragraph 7.5 of the accounting standard:

(i) the percentage of the bonus or grant for the financial year that was paid to the person, or that vested in the person, in the financial year; and

(ii) the percentage of the bonus or grant for the financial year that was forfeited by the person (because the person did not meet the service and performance criteria for the bonus or grant) in the financial year; and

(iii) the financial years, after the financial year to which the report relates, for which the bonus or grant will be payable if the person meets the service and performance criteria for the bonus or grant; and

(iv) estimates of the maximum and minimum possible total value of the bonus or grant for financial years after the financial year to which the report relates, measured in accordance with section 6 of the accounting standard;

(d) details of payments made to the person (if any) before the person took office as part of the consideration for the person agreeing to hold office, including the monetary value of the payment and the date of the payment.

(3) The information mentioned in subregulation (1), and the information mentioned in subregulation (2), must be included in separate, clearly identified, sections of the remuneration report.

(4) In this regulation:

accounting standard means Accounting Standard AASB 1046, Director and Executive Disclosures by Disclosing Entities, as in force at the commencement of this regulation.