公司法第300A条规定上市公司有义务在股东大会上向股东提交薪酬报告(Milne, 2002)。必须根据董事会的政策确定向关键管理人员支付的薪酬的性质和金额(O’sullivan, Percy和Stewart, 2008)。政策和公司绩效之间形成了一种内在的关系。这并不是非上市公司所要求的。
The different nuances of the public companies and the remuneration that have been operated on the listed and unlisted companies have been detailed in the following.
Public companies Disclosure obligations
A smaller company are needed to be annual financial reports and the directors need to adhere with the specific disclosure set by the Section 300 of the Corporation Act. A company with operating revenue of is lesser than $1 million need to ensure that the annual financial reports and the directors’ report with the specific discloser are set in the Section 300B of the Corporations Act. Annual financial report needs to be in accordance with the mandates set forth by the Chapter 2M. The company needs to ensure that these mandates are audited.
Differences in remuneration by Corporations Act (2001) based on listed and unlisted companies
The section 300A of the Corporations Act states that the listed companies have the obligation to present the remuneration report to the stakeholders at the general meeting (Milne, 2002). There must be a determination made that is based on the boards policies for the determination of the nature and the amount of remuneration that is paid to the key management personnel (O’Sullivan, Percy and Stewart, 2008). There is an innate relationship that is forged between the policies and the company performance. This is not required by the companies that are not listed.