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CAMAC- Issues in external administration |
On 11 December 2008 the Corporations and Markets Advisory Committee ("CAMAC") released it's report on issues in external administrations. |
CAMAC's views are expressed after public submissions were received during the process which led to the enactment of the Corporations Amendment (Insolvency) Act 2007 in December 2007. |
The CAMAC report covers a broad range of matters dealing with corporate administrations and its recommendations are aimed at:
- Improving stake holders access to information;
- Approval of practitioners remuneration;
- ASIC powers streamlining insolvency processes, and;
- Using opportunities presented by modern information technology.
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| Senator Nick Sherry, Minister for Superannuation and Corporate Law said: "the government will closely examine CAMAC's recommendations for reform." |
