Support grows for corporate law reform
10 November 2025
Support continues to grow for the reinstatement of a standing corporate law reform body, with the Chair of the Australian Securities and Investments Commission (ASIC) adding his endorsement in an address to the National Press Club last week.
“The Law Council has called on the Government to establish a standing law reform advisory body to replace the former Corporations and Markets Advisory Committee (CAMAC),” Law Council of Australia Executive Member, Elizabeth Shearer said.
“The dynamic nature of corporations and markets creates a need for ongoing and timely reform and legal regeneration in these areas.”
The Law Council believes the CAMAC structure proved its worth as an effective way of securing expert advice from independent sources during the development of reform proposals, and of carrying complex reform projects across the political cycle.
“An expert body could enhance the efficiency of the reform process and reduce complexity and unnecessary costs,” Ms Shearer said.
“CAMAC was disbanded just over a decade ago and the Law Council’s Business Law Section (BLS), led by its Chair Pamela Hanrahan, has strongly advocated for its replacement for many years.
“Reinstituting a body like CAMAC was a key recommendation of our Call to Parties circulated in the lead up to last election; and the need for such as body was reiterated last month by the Corporate Law Reform Alliance, which includes the BLS and twelve other peak bodies.
“We were heartened by the support expressed last week by the Chair of ASIC, Joe Longo, for reviving a standing expert body to support productivity-enhancing regulatory reform.”
Contact
Kristen Connell
P. 0400 054 227
E. kristen.connell@lawcouncil.au
Last Updated on 28/11/2025
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