Australia: Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011

The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 - the subject of an earlier post - was introduced in the House of Representatives last week and received its first reading: see here. One of the purposes of the Bill is to make dramatic changes to the operation of the 'say on pay' vote in Australia through the introduction of a process described as 'two strikes and re-election', explained more fully in the explanatory memorandum accompanying the Bill: see here (pdf).