Australian company directors have backed some of the federal government's proposed changes to businesses' annual general meetings.
The Australian Institute of Company Directors has approved the proposal outlined in May to update legal requirements for distributing AGM papers.
But the AICD believes shareholders should be notified individually of meeting documents unless they expressly choose to rely on general public notices.
"The AGM process is failing to keep pace with our changing world, both in terms of technology and options for shareholder participation," John Brogden, CEO of the AICD said on Monday.
According to a recent poll of about 500 AICD members, more than 88 per cent believe all listed companies should be required to offer direct voting, so that shareholders who don't attend can vote without a proxy.
More than 74 per cent believe it should be compulsory for all voting at listed company AGMs to take place via a poll, instead of other methods such as a show of hands.
About 84 per cent believe that electronic voting should be permitted, with only reporting, questioning and deliberating occurring at a physical meeting.
More than 82 per cent agree that directors standing for election at an AGM should be required to answer questions from shareholder, according to the poll.
But fewer than half support the delivery of AGM notices and materials by email unless shareholders request otherwise.
About 37 per cent believe these documents should be posted online and shareholders be notified of their availability electronically.
The AICD lodged its submission on the government's proposal for technology neutrality in the distribution of company meeting notices and materials on Friday, the deadline for submissions.
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