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Companies Update
3 May 2004
Update no 10/04

Important information for ASX Listed Entities


ASX Listing Rule Amendments - Audit Committee Requirement - Now available

The Listing Rules available on the ASX website and ASX Online have been updated to include certain amendments to the Listing Rules dealing with audit committee requirements. The rule amendments take effect 3 May 2004 and provide that while the top 500 (those included in the S & P All Ordinaries Index) listed companies must have an audit committee, only the top 300 of those companies (by market capitalisation) are required to compose their audit committee in accordance with the best practice recommendations of the ASX Corporate Governance Council. Listed companies were advised of these changes in the Companies Update of 25 March 2004. The updated rules include certain technical amendments to introduce the term "approved CS facility" as that term is defined, which also take effect 3 May 2004.

ASX will publish on a regular basis a list of those companies in the top 300 of the S & P All Ordinaries Index, to assist listed entities in determining whether the composition requirements of listing rule 12.7 apply to them. The initial list is available on the ASX website.

Corporate Governance reporting

Under Listing Rule 4.10.3, 2004 is the first year that listed trusts and companies are required to provide disclosure against the ASX Corporate Governance Council's Recommendations in their annual report. ASX has released guidance on acceptable disclosure and how ASX will manage any identified disclosure issues. This is available from the ASX website.
To help keep our Listed Entities informed of information and events ASX will be sending emails to the Company Secretary's Office from time to time. You are receiving this email because you have been identified as a key contact within the Company Secretary's Office at your organisation. If you would like to update your email address please do so via the Directors/Senior Management page on ASX Online for Companies. Feel free to forward this email to any relevant parties within your organisation.