21 June 2004

Establishment of the Shareholders and Investors Advisory Council

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


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