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

The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 received its third reading in Senate earlier this week and has now been passed by both Houses: see here. The Bill will become an Act when Assent is given. A copy of the Bill, as passed by both Houses, is available: see here or here (pdf) or here (Word). A summary of the Bill is available here. An explanatory memorandum is available here and here (pdf). The  Act will introduce, amongst other things, the so-called 'two strikes and re-election' process in respect of the shareholders' advisory vote on the remuneration report.

Update (29 June 2011): the Bill received Assent on 27 June (see here) and a copy of the Act is available here.