Banking Act 1959

Part IIAA - The Banking Executive Accountability Regime  

Division 4 - Deferred remuneration obligations  

SECTION 37ED   Exemption for small amounts of variable remuneration  

Paragraph 37E(1)(a) does not apply in relation to the variable remuneration of an accountable person for a financial year if the amount of the person ' s variable remuneration that is required, or would apart from this section be required, under subparagraph 37E(1)(a)(ii) to be deferred for that financial year is less than:

(a) the amount determined under subsection (2); or

(b) if a determination under subsection (2) is not in force - $50,000.

The Minister may, by legislative instrument, determine an amount for the purposes of paragraph (1)(a).

This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.