The Federal Government has announced the Corporations and Markets Advisory Committee (CAMAC) will conduct an inquiry into future structure of annual general meetings (AGMs).

 

CAMAC will look at how the AGM may operate into the future and how it might better deliver opportunities for shareholder engagement.

 

“The AGM is an essential part of the shareholder engagement framework and this inquiry will help to inform future policy directions about how the regulations governing the operation of the AGM might be refined to encourage improved outcomes for companies and shareholders,” Parliamentary Secretary to the Treasurer David Bradbury said.

 

“I have asked CAMAC to examine the future of the AGM, with particular regard to the impact of technological innovations and globalisation on the methods of information distribution and the way in which shareholders interact with companies.”


The terms of reference for the inquiry are:

  • The future of the AGM in Australia, including how documents and meeting forms should change to meet the needs of shareholders in the future
  • The risks and opportunities presented by advancements in technology, in the context of maintaining the ongoing relevance and efficacy of the AGM; and
  • The challenges posed to the structure of the AGM by globalisation, including potential increases in international share-ownership and dual-listing.

 

“While the AGM will continue to be a forum for shareholders to have their say, the way in which this occurs will continue to evolve. I look forward to this inquiry looking closely at the emerging opportunities for better transparency, accountability and shareholder engagement through the AGM.”


The terms of reference and letter of referral can be found at www.camac.gov.au