Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Bill 2004

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  • Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Bill 2003
Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
40

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Summary

Introduced with the Corporations (Fees) Amendment Bill (No. 2) 2003, the bill amends the: Australian Securities and Investments Commission Act 2001 and Corporations Act 2001 in relation to audit oversight and auditor independence; financial reporting; classes of officers, senior managers and employees; Australian Securities and Investments Commission Act 2001, Corporations Act 2001 and Trade Practices Act 1974 to implement proportionate liability in respect of economic loss or damage to property; Corporations Act 2001 in relation to: enforcement arrangements in the event of corporate misbehaviour; remuneration of directors and executives; continuous disclosure and infringements; disclosure rules; shareholder participation and information; conflicts of interest of financial services licensees. Also contains application and transitional provisions.

Progress

House of Representatives
Introduced and read a first time 04 Dec 2003
Second reading moved 04 Dec 2003
Second reading agreed to 16 Feb 2004
Third reading agreed to 16 Feb 2004
Senate
Introduced and read a first time 01 Mar 2004
Second reading moved 01 Mar 2004
Second reading agreed to 16 Jun 2004
Committee of the Whole debate
  • Amendment details: 96 Government, 35 Opposition and 2 Australian Democrats agreed to
17 Jun 2004
Committee of the Whole debate
  • Amendment details: 2 Government and 11 Australian Democrats agreed to
21 Jun 2004
Committee of the Whole debate
  • Amendment details: 53 Government and 26 Opposition agreed to
22 Jun 2004
Third reading agreed to 22 Jun 2004
House of Representatives
Consideration of Senate message
  • Details: House agreed to Senate amendments 1-11, 21-27, 35, 37-42, 45-84, 87-90, 93-107, 111-113, 120-126, 128, 129, 131-133, 136, 148-153, 179-222, 224 and disagreed to 12-20, 28-34, 36, 43, 44, 85, 86, 91, 92, 108-110, 114-119, 127, 130, 134, 135, 137-147, 154-178, 223 and 225
23 Jun 2004
Senate
Consideration of House of Reps message
  • Details: Senate did not insist on amendments disagreed to and made 12 further Australian Democrats/Opposition amendments
24 Jun 2004
House of Representatives
Consideration of Senate message
  • Details: House agreed to further Senate amendments
25 Jun 2004
Assent
  • Act no.: 103
  • Year: 2004
30 Jun 2004

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

Senate

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Schedules of amendments

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Bills digest

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Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.