A History of the Corporations and Markets Advisory Committee and its Predecessors

20 Pages Posted: 10 Nov 2018

See all articles by Ian Ramsay

Ian Ramsay

Melbourne Law School - University of Melbourne

Date Written: October 17, 2018

Abstract

From 1983 until the abolition of the Corporations and Markets Advisory Committee (CAMAC) in 2018, there existed an independent body to provide advice to the Australian government on matters of corporate law reform. The abolition of CAMAC was controversial. The purpose of this paper is to provide a history of CAMAC and its predecessors. These law reform bodies published many reports and their influence on corporate law reform has been significant. Yet no one has yet provided a history. A key part of the paper is consideration of the debates leading up to abolition of CAMAC. An examination of these debates demonstrates how the government made this decision in the face of very strong opposition from organisations representing business, shareholders and various professions including the Australian Institute of Company Directors, the Australian Council of Superannuation Investors, the Governance Institute of Australia, the Law Council of Australia, the two major accounting bodies, the Australian Restructuring Insolvency & Turnaround Association and the Corporate Law Teachers Association. In the opinion of the author, the decision to abolish CAMAC has resulted in a weakened law reform process.

Keywords: corporate law, Corporations and Markets Advisory Committee, law reform

Suggested Citation

Ramsay, Ian, A History of the Corporations and Markets Advisory Committee and its Predecessors (October 17, 2018). Available at SSRN: https://ssrn.com/abstract=3267685 or http://dx.doi.org/10.2139/ssrn.3267685

Ian Ramsay (Contact Author)

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

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