The Parliamentary Secretary to the Treasurer, the Hon Ross Cameron MP, today announced the establishment of the Shareholders and Investors Advisory Council as part of CLERP 9.
'The Council will improve opportunities for effective participation by Australian retail shareholders and investors, and will constructively influence the activities and governance practices of the entities in which retail shareholders invest,' Mr Cameron said.
The Council's role is to:
- inform the Government on developments and issues affecting retail investors; and
- provide advice and feedback to the Government on development of policies and strategies, on issues of corporate disclosure and governance as they relate to retail investors.
The Council is being established as part of Phase 9 of the Government's Corporate Law Economic Reform Program (CLERP 9). CLERP 9 reviews the effectiveness of the corporate disclosure framework, including the continuous disclosure regime, analyst independence, audit independence and enforcement issues.
A list of the Council's members is attached.
21 June 2004
ATTACHMENT A
Membership of the Shareholders and Investors Advisory Council
Mrs Cythia Doig
Mr Daryl Guppy
Mr John Hastie
Mr Tony Hunter
Mrs Jill Nicholson
Mr Geoff Paddick
Ms Penelope Reader Harris
Mr Ted Rofe
Mr Tony Shadforth
Ms Amanda Smith