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Australia: Treasury opens consultation on legislation for enhanced ownership disclosure of listed entities

The consultation period closes on December 13, 2024.

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November 15, 2024

The Department of the Treasury has opened a consultation on exposure draft legislation aimed at increasing the disclosure of ownership information for listed companies.

The Treasury Laws Amendment Bill 2024: Enhanced disclosure of ownership of listed entities seeks to amend Chapters 6 and 6C of the Corporations Act 2001. The proposed amendments aim to bring equity derivatives into fuller view under the Chapter 6C disclosure regime, expand the definition of “relevant interest,” clarify disclosure requirements, and require foreign-registered entities listed on Australia's financial markets to disclose interests to the same standard as Australian-registered entities. Additionally, the amendments propose to improve access to existing registers of information and grant the Australian Securities and Investments Commission authority to enforce compliance.

Consultation forums are scheduled for November 26 and 28, 2024. The consultation period closes on December 13, 2024.

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