Bill
ASIC Supervisory Cost Recovery Levy Bill 2017
passed, as at 2017-06-19. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2017-03-30
- second reading — 2017-03-30
- second reading — 2017-05-30
- second reading — 2017-05-30
- third reading — 2017-05-30
- introduced — 2017-06-13
- second reading — 2017-06-13
- second reading — 2017-06-15
- second reading — 2017-06-15
- third reading — 2017-06-15
- passed — 2017-06-15
- royal assent — 2017-06-19
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2017-03-30.
This bill is part of a package that would introduce an industry funding model for ASIC starting on 1 July 2017.
The package would require ASIC to annually explain its regulatory priorities, resource allocation, and improve its data collection from financial entities.
The government estimates the package would add $308.7 million to the budget over four years and increase compliance costs by $21.1 million each year.
- Introduce an industry funding model for ASIC.
- Require ASIC to report annually on its regulatory priorities and resource use.
- Require ASIC to collect and use more data from financial entities.
ASIC, financial entities, and consumers.
Sources
em
billhome
frl act