edited
24th Feb 2022
Corporations Amendment (Meetings and Documents) Bill 2021 - Third Reading - Pass the bill
Passed by a modest majority
No rebellions 54% attendance
10th Feb 2022, 5:20 PM – Senate Corporations Amendment (Meetings and Documents) Bill 2021 - in Committee - Wholly virtual meetings for non-listed entities
Summary
EditThe majority voted against amendments introduced by Tasmanian Senator Nick McKim (Greens), which means they failed.
Senator McKim explained that:
This amendment would prevent listed companies from holding wholly virtual AGMs. It's been revised to align it with the amendments agreed to in the House to establish a review into these provisions of the bill. By their nature, listed companies have a public responsibility and the parliament should ensure that their AGMs are conducted in a publicly observable manner. Allowing listed companies to hold hybrid AGMs will provide an opportunity for all of the issues associated with virtual meetings to be sorted out and for there to be a real-world confirmation of their purported benefits. Until then, wholly virtual AGMs for listed companies should not be allowed and shareholders should retain the opportunity to sit in the same room as the executive and the board to bear witness to exactly what they are up to and have the capacity to hold them to account for their actions.
What does the bill do?
According to the bills digest, the bill was introduced in order to:
- allow companies to use technology to execute company documents such as contracts and deeds and to also sign meetings-related documents and provide those to their members and
- allow companies and registered schemes to hold hybrid meetings (which give members the option of either attending in person or remotely).
Votes Not passed by a modest majority
Nobody rebelled against their party.
| Party | Votes | |
|---|---|---|
| Australian Greens (100% turnout) | 9 Yes – 0 No | |
| Dorinda Cox WA | Yes | |
| Mehreen Faruqi NSW | Yes | |
| Sarah Hanson-Young SA | Yes | |
| Nick McKim Tasmania | Yes | |
| Janet Rice Victoria | Yes | |
| Jordon Steele-John WA | Yes | |
| Lidia Thorpe Victoria | Yes | |
| Larissa Waters Queensland | Yes | |
| Peter Whish-Wilson Tasmania | Yes | |
| Australian Labor Party (12% turnout) | 0 Yes – 3 No | |
| Kim Carr Victoria | No | |
| Raff Ciccone Victoria | No | |
| Jenny McAllister NSW | No | |
| Tim Ayres NSW | Absent | |
| Catryna Bilyk Tasmania | Absent | |
| Carol Brown Tasmania | Absent | |
| Anthony Chisholm Queensland | Absent | |
| Patrick Dodson WA | Absent | |
| Don Farrell SA | Absent | |
| Katy Gallagher ACT | Absent | |
| Nita Green Queensland | Absent | |
| Karen Grogan SA | Absent | |
| Kristina Keneally NSW | Absent | |
| Kimberley Kitching Victoria | Absent | |
| Malarndirri McCarthy NT | Absent | |
| Deborah O'Neill NSW | Absent | |
| Helen Polley Tasmania | Absent | |
| Louise Pratt WA | Absent | |
| Tony Sheldon NSW | Absent | |
| Marielle Smith SA | Absent | |
| Glenn Sterle WA | Absent | |
| Anne Urquhart Tasmania | Absent | |
| Jess Walsh Victoria | Absent | |
| Murray Watt Queensland | Absent | |
| Penny Wong SA | Absent | |
| Stirling Griff SA Centre Alliance | Absent | |
| Sam McMahon NT Country Liberal Party | No | |
| Sue Lines WA Deputy President | Absent | |
| Rex Patrick SA Independent | Yes | |
| Jacqui Lambie Tasmania Jacqui Lambie Network | No | |
| Liberal National Party (100% turnout) | 0 Yes – 2 No | |
| Matthew Canavan Queensland | No | |
| James McGrath Queensland | No | |
| Liberal Party (66% turnout) | 0 Yes – 19 No | |
| Eric Abetz Tasmania | No | |
| Wendy Askew Tasmania | No | |
| Simon Birmingham SA | No | |
| Andrew Bragg NSW | No | |
| Claire Chandler Tasmania | No | |
| Richard Colbeck Tasmania | No | |
| Jonathon Duniam Tasmania | No | |
| Concetta Fierravanti-Wells NSW | No | |
| Sarah Henderson Victoria | No | |
| Hollie Hughes NSW | No | |
| Jane Hume Victoria | No | |
| Andrew McLachlan SA | No | |
| Greg Mirabella Victoria | No | |
| Jim Molan NSW | No | |
| Matt O'Sullivan WA | No | |
| James Paterson Victoria | No | |
| Dean Smith WA | No | |
| Amanda Stoker Queensland | No | |
| David Van Victoria | No | |
| Alex Antic SA | Absent | |
| Michaelia Cash WA | Absent | |
| David Fawcett SA | Absent | |
| Marise Payne NSW | Absent | |
| Gerard Rennick Queensland | Absent | |
| Linda Reynolds WA | Absent | |
| Anne Ruston SA | Absent | |
| Paul Scarr Queensland | Absent | |
| Zed Seselja ACT | Absent | |
| Ben Small WA | Absent | |
| National Party (67% turnout) | 0 Yes – 2 No | |
| Perin Davey NSW | No | |
| Susan McDonald Queensland | No | |
| Bridget McKenzie Victoria | Absent | |
| Pauline Hanson's One Nation Party (50% turnout) | 1 Yes – 0 No | |
| Malcolm Roberts Queensland | Yes | |
| Pauline Hanson Queensland | Absent | |
| Slade Brockman WA President | Absent | |
| Totals (51% turnout) | 11 Yes – 28 No |
Turnout is the percentage of members eligible to vote that did vote.