Bill
Treasury Laws Amendment (2017 Measures No. 5) Bill 2017
passed, as at 2018-04-11. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2017-09-07
- second reading — 2017-09-07
- second reading — 2018-02-27
- second reading — 2018-02-28
- second reading — 2018-02-28
- third reading — 2018-02-28
- introduced — 2018-03-19
- second reading — 2018-03-19
- second reading — 2018-03-28
- second reading — 2018-03-28
- committee — 2018-03-28
- third reading — 2018-03-28
- other — 2018-03-28
- passed — 2018-03-28
- royal assent — 2018-04-11
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 2017-09-07.
This bill is part of a package that would create a new licensing system for administrators of important financial benchmarks, overseen by the Australian Securities and Investments Commission.
The Australian Securities and Investments Commission would gain authority to designate significant benchmarks and make rules based on international principles, and manipulating a financial benchmark would become a criminal offence.
The main parts of the bill would start the day after the bill receives royal assent.
- Create a new licensing regime for administrators of designated significant financial benchmarks.
- Give ASIC powers to make rules for licensed benchmark administrators.
- Make manipulation of financial benchmarks a criminal offence with civil penalties.
Administrators of designated significant financial benchmarks and entities from which ASIC may recover regulatory costs.
Sources
em
em supp
billhome
frl act