Treasurer Josh Frydenberg appears to have backed down.
An extraordinarily rushed timetable that would have allowed investors and others just 12 days to comment on draft legislation permitting companies to hold virtual rather than face-to-face annual general meetings has been extended by seven days, to the end of this week.
The idea took hold when it became apparent COVID-19 would stop companies being able to hold physical meetings of shareholders.
- ^ extended by seven days (treasury.gov.au)
- ^ now says (www.afr.com)
- ^ six-month temporary (ministers.treasury.gov.au)
- ^ March 22, 2021 (ministers.treasury.gov.au)
- ^ In 2020 Westpac's AGM will be virtual (cdn-api.markitdigital.com)
- ^ draft legislation (treasury.gov.au)
- ^ been ignored (www.afr.com)
- ^ much shorter (www.theaustralian.com.au)
- ^ healthy discussion (www.australianshareholders.com.au)
- ^ Australia is ripe for shareholder activism (theconversation.com)
- ^ has complained (www.cii.org)
- ^ study (papers.ssrn.com)
- ^ What limits shareholder activism as a force for good: the free-rider problem (theconversation.com)
- ^ Woodside Petroleum AGM (www.smh.com.au)
- ^ hybrid (www.afr.com)
- ^ How Westpac is alleged to have broken anti-money laundering laws 23 million times (theconversation.com)
Authors: Ian Ramsay, Professor, Melbourne Law School, University of Melbourne