Australia: CAMAC to review the annual general meeting

The Treasury has asked the Corporations and Markets Advisory Committee to consider, amongst other things, the future of the annual general meeting in Australia. The terms of reference are outlined in a letter sent to CAMAC by the Hon David Bradbury MP, Parliamentary Secretary to the Treasurer: see here (pdf).

Mr Bradbury's letter refers to a report published in 2008 by the Parliamentary Joint Committee on Corporations and Financial Services - titled 'Better shareholders – Better company: shareholder engagement and participation in Australia", available here (pdf) - in which  the role of the AGM was considered. The Joint Committee took the view that the AGM remained a useful engagement forum for retail investors.