We support the inclusion in the Determination of several important due process concepts. However, we are concerned that the Determination adopts a largely principles-based approach without providing sufficient guidance as to how those principles should ordinarily be applied in practice. This approach is consistent with the legislation and Parliament’s intent. Section 230(2) of the Australian Securities and Investments Commission Act 2001 (as amended by the Treasury Laws Amendment (Financial Reporting System Reform) Act 2026) specifies that determinations address how a board performs its functions, including consultation and procedural requirements, strategic direction and reporting. The Explanatory Memoranda to the legislation also notes that determinations set out how boards make decisions, consultation requirements and the broad strategic direction to be followed.