King & Wood Mallesons

Asia-Pacific 100 position: 3

What you need to know about the proposed new edition of ASX’s ‘Corporate Governance Principles and Recommendations’ and associated changes to ASX Listing Rules

ASX is consulting on a two-staged update to its corporate governance policies. Stage one proposes a new edition of the ASX Corporate Governance Council’s ‘Corporate Governance Principles and Recommendations’ and stage two proposes governance-related amendments to the ASX Listing Rules and Guidance Note 9 (Disclosure of Corporate Governance Practices). Two consultation papers have been released, with the consultation period for both closing on 15 November 2013.

The ASX Corporate Governance Council’s consultation paper seeks comments on a proposed third edition of its Corporate Governance Principles and Recommendations. The draft third edition accommodates developments in corporate governance matters since the second edition was released (originally published in 2007 and amended in 2010) and allows listed entities more flexibility in making corporate governance disclosures. The aim is to introduce the third edition on 1 July 2014.

The eight principles in the current edition remain but have been reworked in many cases to call for stronger links between the principle and the supporting recommendations. The top six things you should be aware of are listed in this briefing…

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