If only James Hardie Industries could pay compensation as fast it doubled its own directors' pay, disgusted victims advocate Bernie Banton lamented.

The building products company has only taken weeks to more than double its board's collective cash pay to $2 million a year.

It's just hard to imagine anything more obnoxious than for people like that to be getting a raise of 130 per cent when they haven't put the victims' rights to bed, Mr Banton said.

They have been able to get this over and done with in such a short time and yet it's taken three years to deal with the victims, and they still don't have any definite resolution.

The company has agreed to pay a $4.5 billion compensation package to the asbestos victims of its building products.

But the deal hit a roadblock in June after the Australian Taxation Office ruled that the package would not have a charity status discount for tax purposes.

James Hardie chairman Meredith Hellicar will be paid $A398,000 cash a year, up from $A238,000, in the new pay plan flagged earlier this month.

The plan was overwhelmingly approved by shareholders in a vote on Monday night (AEST) at the former Australian company's formal annual general meeting in Amsterdam, The Netherlands.

Mr Banton said: My mate Merry Death (Meredith Hellicar) just stands disgraced once again.

There has been a two-year delay on the implementation of the 40-year Special Purposes Fund (SPF) for asbestos victims, with James Hardie's bid to have the SPF given charity status is still being blocked by the ATO.

Mr Banton said the company was expected to lodge a reworked compensation proposal with the tax office in coming weeks, but he is cynical about that happening.

There should be no way this should drag on into next year. It should be dealt with this year, absolutely, Mr Banton said.

But I really have a terrible feeling in the pit of my stomach that these people are not as keen to get the barrel rolling in the direction of victims as they have to get wheel barrow loads of money rolling towards themselves.

What could they (the directors) have possibly done to deserve that kind of money. It's a bad joke. It is just outrageous.

The company said last week that it continues to be frustrated by delays that have prevented it from presenting future funding arrangements for its asbestos compensation liabilities to shareholders.

Australia