Chris Pearce (Aston, Liberal Party, Parliamentary Secretary to the Treasurer) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

The Corporations (Review Fees) Amendment Bill 2007 supports the Corporations Legislation Amendment (Simpler Regulatory System) Bill 2007.

The bill will amend the Corporations (Review Fees) Act 2001 to provide companies with the option of paying their annual review fees up-front to cover a period of 10 years.

The reform will reduce transaction costs for companies that take up this option, complementing other reforms that remove the need for companies to interact with the corporate regulator annually.

In particular, this measure recognises the importance of businesses to interact with government authorities more effectively. The bill also responds to the need to enhance the efficiency with which businesses can comply with their corporate law obligations.

I commend the bill to the House.

Debate (on motion by Ms Livermore) adjourned.