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Our 17 August 2011 update described the inconsistency between section 250BD and section 250R(4) of the Corporations Act, on whether the chairperson may vote undirected proxies on the remuneration report resolution, and the strategies available to manage the issue
The full effect of the two strikes rule remains to be seen after the 2012 AGM season when second strikes will likely be received - but it has already had some effect by focusing attention on companies' remuneration practices and heightening awareness of the need to engage with shareholders and their advisers
