First edition - Principles of good corporate governance

First edition 2003

The ASX Corporate Governance Council (Council) released the first edition of its Principles of Good Corporate Governance Practice and Best Practice Recommendations (First Edition Corporate Governance Guidelines) on 31 March 2003. 

In accordance with ASX Listing Rule 4.10.3 (PDF 190KB), listed entities are required to make disclosure in their annual reports of the extent to which they do or do not follow the Guidelines.

For additional guidance on the First Edition Corporate Governance Guidelines please see:

Council's review of the first edition of Principles and Recommendations

In November 2006, the Council released the following Consultation Documents:

1.  A public Explanatory Paper and Consultation Paper (PDF 260KB) on proposed changes to the First Edition Corporate Governance Guidelines.

2.  Principles of Good Corporate Governance and Good Practice Recommendations - Exposure draft of changes (showing marked amendments) (PDF 454KB)

3.  Principles of Good Corporate Governance and Good Practice Recommendations - Exposure draft of changes (clean version) (PDF 227KB)
 
The Council’s review took into account the CLERP 9 amendments, reporting trends to date, the need for any additional guidance, and recent developments in non-financial risk reporting.

The Council received over 100 submissions in response to the Consultation Documents from listed entities, industry groups, individuals, domestic and international institutional investors, fund trustees and non government organisations.

On 2 August 2007, the Council released its response to submissions and the second edition of the Revised Corporate Governance Principles and Recommendations (Second Edition Corporate Governance Guidelines).  The Council's response Paper and the Revised Guidelines are available to view.