Parliament approves call to reserve board seats for women
Parliament has agreed to the government’s proposal calling for more women to be appointed to company boards.
Yesterday the Senate voted in favour after the bill squeaked through the lower house by just one vote.
The new law will compel listed companies to reserve 20 to 30% of board seats to women over the next 5 to 10 years.
There are criticisms the law doesn’t go far enough – it will only affect around 250 companies in the country and there are no sanctions for non-compliance.