Bill
ASIC Supervisory Cost Recovery Levy (Consequential Amendments) 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 three-bill package that would introduce an industry funding model for ASIC from 1 July 2017.
Under the model, ASIC would have to explain its regulatory priorities annually and improve how it collects and uses data from financial entities.
The explanatory memorandum says the package would add $308.7 million to the underlying cash balance over four years and increase compliance costs by $21.1 million each year.
- Introduces an industry funding model for ASIC.
- Requires ASIC to annually explain its regulatory priorities and resource allocation.
- Requires ASIC to improve its collection and use of data from financial entities.
ASIC, financial entities and consumers.
Sources
em
billhome
frl act