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The map below shows the relationship between Government outcomes and the contributing outputs for the Companies and Securities Advisory Committee (CASAC). Financial detail for Outcome 1 by output appears in Table 2.1 while non-financial information for Outcome 1 appears in Table 2.2.
Chart 6: Outcomes and output groups
There are no proposed changes in outcomes or outputs from the previous year.
A fair and efficient market characterised by integrity and transparency and supporting confident and informed participation of investors and consumers.
There are no measures for CASAC in the 2001-02 Budget.
Table 2.1: Total resources for Outcome 1
(1) C1 and E1 - see Table 1.1.
The output of CASAC is similar to the first output of the Australian Securities and Investments Commission (ASIC) policy and guidance about the laws administered by ASIC. CASAC focuses on the legislation related to companies and financial markets, and its operations involve initiating major policy innovation in corporate law, reviewing procedural and other issues in current practice, and reviewing draft legislative policy and Bills. This is basic to the achievement of the Government outcome of confident and informed participation of investors and consumers in the financial system.
Table 2.2: Performance information for Outcome 1
Output Group 1.1 - Companies and Securities Advisory Committee | |
Output 1.1.1 - Annual Report and discussion papers Output 1.1.2 - Recommendations and reports |
The Advisory Committee seeks to stimulate and lead public debate on the enhancement of standards for corporations and participants in securities and futures markets, and proposes regulatory reform where necessary. To achieve these performance goals, the Advisory Committee seeks the expert advice of its Legal Committee, encourages public comment on its discussion papers and thoroughly reviews all submissions received on them. This well established process of public review is designed to ensure that the commercial community has the opportunity to fully participate in the law reform process. Through this consultation and review process, and the provision of timely advice to the Treasurer and the Minister for Financial Services and Regulation in the form of Advisory Committee Reports and other papers, the Committee seeks to ensure that Australian securities and futures markets and corporations continue to operate in a commercial environment of the highest standards supported by appropriate legislation. |
There are no planned evaluation activities in the 2001-02 financial year.
CASAC predominantly achieves cost effectiveness in its non-core operations through the use of contracts arranged by or through ASIC. This would mainly relate to travel management and other general administrative expenditure, including capital item purchases.