The Commonwealth Government has introduced a series of bills into the House of Representatives which together with other previous announcements are designed to reduce “red tape”.
The Prime Minister’s speech sets out the scope of the changes.
The Bills include:
- Personal Property Securities Amendment (Deregulatory Measures) Bill 2014
- Australian Charities and Not-for-profits Commission (Repeal) (No. 1) Bill 2014
- Corporations Amendment (Streamlining of Future of Financial Advice) Bill 2014
- Statute Law Revision Bill (No. 1) 2014
- Amending Acts 1901 to 1969 Repeal Bill 2014
- Omnibus Repeal Day (Autumn 2014) Bill 2014
Apart from repealing out of date legislation and correcting typos, there are some changes to legal terminology:
- “email” replaces “e-mail” and “electronic mail”;
- “fax” replaces “facsimile transmission”; and
- “trade mark” replaces “trademark”.
Other areas of future possible changes include gender reporting and the number of shareholders required to requisition a company special general meeting.