Corporations Act 2001

A remuneration recommendation is:

a recommendation about either or both of the following:

how much the remuneration should be;

what elements the remuneration should have;

a recommendation or advice about a matter or of a kind prescribed by the regulations.

None of the following is a remuneration recommendation (even if it would otherwise be covered by subsection (1)):

advice about the operation of the law (including tax law);

advice about the operation of accounting principles (for example, about how options should be valued);

advice about the operation of actuarial principles and practice;

the provision of facts;

the provision of information of a general nature relevant to all employees of the company;

a recommendation, or advice or information, of a kind prescribed by the regulations.

Subsection (2) does not limit the things that are not remuneration recommendations, nor does it mean that something specified in that subsection would otherwise be a remuneration recommendation within the meaning of subsection (1).

ASIC may by writing declare that subsection (1) does not apply to a specified recommendation or specified advice, but may do so only if ASIC is satisfied that it would be unreasonable in the circumstances for the advice or recommendation to be a remuneration recommendation. The declaration has effect accordingly. The declaration is not a legislative instrument.