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7 September 2009
© Commonwealth of Australia 2009 ISBN 978-1-74229-144-4
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Background and conduct of the inquiryProvisions of the bill
What problem is the bill trying to fix?
Timing of the billGiving shareholders a greater sayThe 12 month thresholdPro-rata limit for service less than 12 monthsGlobal competition for talentIncreased base salaries or 'golden hellos'A new 'floor'What is included in 'termination benefit'?Contract Disputes'Total remuneration' versus 'base salary'Key management personnelSubsidiaries and unlisted companiesCompliance costCause of TerminationTechnical Matters
IntroductionStrong corporate governance in AustraliaAdverse effects/unintended consequencesUnresolved issuesConclusions
Wider issues concerning executive payThe growth trajectory of executive payIncome inequality and social inequalityThe role of remuneration consultants, comparative wage justice and pattern bargainingExecutives effectively set their own payConclusions and recommendations
IntroductionBackgroundConsideration of executive performance and payoutsPoor performanceMethods by which payouts are accessedConclusion
Committee Secretary Senate Standing Committee on Economics PO Box 6100 Parliament House Canberra ACT 2600 Australia Phone: +61 2 6277 3540 Fax: +61 2 6277 5719 Email: economics.sen@aph.gov.au
Committee Secretary Senate Standing Committee on Economics PO Box 6100 Parliament House Canberra ACT 2600 Australia
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