“Legal changes that provide mutual enterprises with a mechanism to enable them to access a broader range of capital raising opportunities will make the sector more robust and the economy more diverse and as a consequence, robust,” Mr Mead said. 

Mr Mead also welcomed the Treasurer’s confirmation that the consultation would focus on whether “mutual enterprise” should be explicitly defined in the Corporations Act. 

“If enacted, this would add certainty and transparency to the commercial arrangements of mutual organisations and level the playing field with other corporate forms,” Mr Mead says. 

“The Senate Economic References Committee's final report on the sector contained a series of practical and sensible recommendations.The Treasurer's appointment of Mr Hammond to take this work further is another step toward real economic reform.”