“The Rudd Government is mindful of the regulatory burden facing Australian companies,” the Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP said.
“This package of reforms will deliver much needed relief from red-tape for Australian companies.
“The reforms will reduce unnecessary reporting obligations on companies and implement a number of other important refinements to our corporate regulatory framework.”
The key measures to reduce red-tape include:
The reforms will also implement refinements to the regulatory framework, including:
“These are important reforms that will ensure that Australia’s financial reporting framework remains strong and ahead of world’s best practice,” Bowen said.
“I strongly encourage interested parties to participate in the consultation process.”
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