Public Hearing in Canberra, June 24
Dr Brendan Nelson, MP, Chair of the House of Representatives Standing
Committee on Employment, Education and Workplace Relations announced
that the committee will hold a public hearing for its inquiry into employee
share ownership plans, in Canberra on 24 June 1999.
Representatives of the Remuneration Planning Corporation will be giving
evidence.
Dr Nelson said: 'Employee share ownership plans are widely used in
the United States and the United Kingdom to create wealth for all levels
of employee from factory workers to executives.'
'The Committee has received submissions indicating that in Australia
very few employees have access to share plans. Usually shares are restricted
to executives in companies listed on the Stock Exchange.'
'The Remuneration Planning Corporation, in its submission to the inquiry,
recommended a review of the tax and corporations laws governing employee
share plans to remove barriers to the implementation of plans.'
'The Committee is keen to examine whether a relaxation of these rules
would encourage greater participation and savings by individuals.'
'The Committee has been told that share entitlements should be portable
across employers. During the inquiry, the Committee will also canvas
the view that employees would be at less financial risk if their share
plans allowed for investment spread across a number of companies.'
Public Hearing
21 June - Canberra
Venue: Parliament House, Committee Room 1R3
9:00-10:00 Remuneration Planning Corporation
Terms of reference
The extent to which employee share ownership schemes have been established
in Australian enterprises and the resultant effects on:
(a) workplace relations and productivity in enterprises; and
(b) the economy.
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