The Parliamentary Secretary to the Treasurer Chris Pearce has announced a comprehensive package of corporate law reform proposals as part of progress on the topics outlined in the Corporate and Financial Services Regulation Review Consultation Paper released in April 2006. These proposals will form part of a single Bill
to be introduced into the Parliament titled the Simpler Regulatory System Bill.

Mr Pearce explained that the Government will progress the reforms principally through the Simpler Regulatory System Bill. In preparation for the Bill, round-table consultations will begin shortly to settle the proposed measures it will contain.

“Some of the more minor technical changes can be put in place
quickly through regulation. These regulations will be released soon for
consultation before being implemented.

“To assist the round-table consultations on the preparation of the Simpler Regulatory System Bill,
I intend to release a paper in September that will enable comment on
defined proposals and their benefits. I am pleased that the Australian
Securities and Investments Commission will be closely involved in
developing and refining these proposals,” Mr Pearce said.

Treasury released a list categorising how the Consultation Paper topics will be handled in the work going forward.