Boardroom Brief: Week commencing 18 September 2023

This is a service specifically targeted at the needs of busy non-executive directors (NEDs). We aim to give you a ‘heads up’ on the things that matter for NEDs in the week ahead - all in two minutes or less. In this edition, we examine recent trends in gender diversity on ASX300 boards, and calls by the Australian Competition and Consumer Commission (ACCC) for businesses to address unfair contract terms pending the introduction of new penalties. We also discuss the consultation paper released by Australian Securities and Investments Commission (ASIC) in relation to the duty on directors to prevent insolvent trading, as well as Beach J’s decision in Re Newcrest Mining Ltd, which dismisses recent calls for the Federal Court of Australia to issue a practice note in relation to applications for an order convening a scheme meeting, and related evidentiary requirements. In Over the Horizon, we discuss comments by the Executive Director of the International Energy Association (IEA) concerning the earlier-than-expected projected global peak in fossil fuel consumption this decade.