Bill
ASIC Supervisory Cost Recovery Levy (Collection) 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 1 July 2017.
Under the model, ASIC would be required to annually explain its regulatory priorities and resource allocation, and improve its data collection from financial entities.
The package is expected to improve the budget balance by $308.7 million over the four years to 2020-21.
- The bills would create an industry funding model for ASIC.
- ASIC would be required to increase accountability through annual explanations of priorities and resource use.
- ASIC would need to improve its collection and use of data from financial entities.
ASIC and the financial services sector, including consumers and regulated entities.
Sources
em
billhome
frl act