APRA softens stance on directors' tenure.(Australian Prudential Regulation Authority)(Brief Article)

Australasian Business Intelligence, March, 2005 by Moullakis, Joyce

Mar 23, 2005 (The Australian Financial Review - ABIX via COMTEX)

The Australian Prudential Regulation Authority (APRA) has relaxed some of its proposed new corporate governance standards. It will no longer limit the tenure of directors of banks and insurers, nor set its own definition of director independence. APRA's new "principles-based approach" to governance in the industry should be made available soon for comment. Under the proposal, banks and insurers will need APRA's approval before rejecting the Australian Stock Exchange's governance rules.

Publication Date: 24 March 2005

AUSTRALIAN PRUDENTIAL REGULATION 

AUTHORITY:

AUSTRALIAN STOCK EXCHANGE.

CORPORATE GOVERNANCE COUNCIL:

HIH INSURANCE LIMITED:...

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