Treasury Laws Amendment (Greater Transparency of Proxy Advice) Regulations 2021 (F2021L01801)

Schedule 1   Amendments

Superannuation Industry (Supervision) Regulations 1994

7   After subregulation 2.38(2)

Insert:

(2A) A summary for the purposes of paragraph (2)(o) must include the following information in relation to reportable voting rights exercised in the previous half of the financial year:

(a) the number of meetings where reportable voting rights were exercised;

(b) the number and types of resolutions in relation to which reportable voting rights were exercised;

(c) the respective proportions of those resolutions where the vote was for the resolution, against the resolution, and to abstain from voting on the resolution;

(d) the name of each financial services licensee that provided a financial service that is proxy advice (within the meaning of the Corporations Regulations 2001) in relation to one or more of those resolutions.

(2B) A summary for the purposes of paragraph (2)(o) must include the following information for each resolution in relation to which reportable voting rights were exercised during the previous half of the financial year:

(a) the name of the company;

(b) the date of the resolution;

(c) the type of meeting at which the resolution was put;

(d) a description of the resolution;

(e) whether the resolution was on a company or a shareholder proposal;

(f) if the company made a recommendation to shareholders on how to vote on the resolution - the company's recommendation;

(g) whether the vote was for the resolution, against the resolution, or to abstain from voting on the resolution.