Executive compensation and employee benefits—Australia—Q&A guide
Executive compensation and employee benefits—Australia—Q&A guide

The following Share Incentives practice note provides comprehensive and up to date legal information covering:

  • Executive compensation and employee benefits—Australia—Q&A guide
  • 1. Provide an overview of the primary sources of law, regulation and practice that govern or affect executive compensation arrangements or employee benefits.
  • 2. What are the primary government agencies or other entities responsible for enforcing these rules?
  • 3. Are any types of compensation or benefits generally subject to specific corporate governance requirements or approval by shareholders or government agencies? What is the general process for obtaining approval?
  • 4. Under what circumstances does the establishment or change of an executive compensation or benefit arrangement generally require consultation with a union, works council or similar body?
  • 5. Are any types of compensation or benefit arrangements prohibited either generally or with respect to senior management?
  • 6. What rules apply to compensation and benefits of non-executive directors?
  • 7. Must any aspects of an executive’s compensation be publicly disclosed or disclosed to the government? How?
  • 8. Are employment agreements required or prevalent? If so, what provisions are common? Are any terms prohibited or unenforceable?
  • 9. What are the prevalent types and structures of incentive compensation? Do they vary by level or type of organisation?
  • More...

Executive compensation and employee benefits—Australia—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to executive compensation and employee benefits in Australia published as part of the Lexology Getting the Deal Through series by Law Business Research (published: November 2020).

Authors: People + Culture Strategies—Joydeep Hor

1. Provide an overview of the primary sources of law, regulation and practice that govern or affect executive compensation arrangements or employee benefits.

National legislation and common law employment contracts are the main sources of law governing executive compensation and employee benefits. The legislative framework includes the Corporations Act 2001 (Cth) (Corporations Act), which deals with disclosure requirements and termination benefits limitations, the Fair Work Act 2009 (Cth) (Fair Work Act), which establishes minimum workplace entitlements for all employees, including executives, and anti-discrimination laws prohibiting discriminatory conduct at all stages of the employment relationship from recruitment to termination. The Competition and Consumer Act 2010 (Cth) may also apply to the recruitment of employees, including executives, with respect to any misleading or deceptive conduct during the recruitment process.

2. What are the primary government agencies or other entities responsible for enforcing these rules?

The Australian Securities and Investments Commission is Australia’s corporate, markets and financial services regulator. The Fair Work Ombudsman and the Fair Work Commission are the principal agencies involved in the enforcement of minimum employment standards.

3. Are any types of compensation or benefits

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