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Key issues:
- The Corporations Legislation Amendment (Simpler Regulatory System) Bill 2007 received Royal Assent on 28 June.
- Included in the amendments are a number of changes to section 300A of the Corporations Act relating to the disclosure of executive and director remuneration.
- The primary impact of these changes on companies is a simplification of reporting requirements due to consolidation of the requirements in accounting standards and the Corporations Act, thereby removing associated inconsistencies. However, as a result, there will now be a requirement for the Remuneration Report to be audited.
- Additionally, there is a new requirement to disclose company policy regarding hedging of equity-based remuneration.
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