Bill
National Consumer Credit Protection (Fees) Amendment (ASIC Fees) Bill 2018
passed, as at 2018-06-28. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2018-05-24
- second reading — 2018-05-24
- second reading — 2018-06-18
- second reading — 2018-06-18
- third reading — 2018-06-18
- introduced — 2018-06-19
- second reading — 2018-06-19
- second reading — 2018-06-28
- second reading — 2018-06-28
- third reading — 2018-06-28
- passed — 2018-06-28
- royal assent — 2018-06-28
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 2018-05-24.
This bill is part of a package of bills that would let the corporate regulator recover more of its costs for regulatory services.
The package would expand the types of activities for which the regulator can charge fees, including work under certain insurance and superannuation laws, and would set who pays and when.
The regulator could also set fees by regulation based on the type of entity or the complexity of the application, and charge extra for changing or cancelling an approved auditor's registration.
- Raises the fee caps so the regulator can recover its costs.
- Adds new chargeable matters for services under the Life Insurance Act 1995, the Insurance Act 1973, and the SIS Act.
- Allows regulations to set different fees for different entity types.
- Allows regulations to set fees based on low, medium, or high complexity.
- Lets the regulator decide by legislative instrument whether an application type is low, medium, or high complexity.
- Permits additional fees for applications to vary, revoke, or cancel an approved SMSF auditor's registration.
Companies and individuals who pay fees to the Australian Securities and Investments Commission for its regulatory services.
Sources
em
billhome
frl act