Bill
Financial Regulator Assessment Authority (Consequential Amendments and Transitional Provisions) Bill 2021
passed, as at 2021-06-29. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2021-05-13
- second reading — 2021-05-13
- second reading — 2021-05-25
- second reading — 2021-05-26
- second reading — 2021-05-26
- third reading — 2021-05-26
- introduced — 2021-06-15
- second reading — 2021-06-15
- second reading — 2021-06-22
- third reading — 2021-06-22
- passed — 2021-06-22
- royal assent — 2021-06-29
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 2021-05-13.
This bill is part of a package that puts into effect recommendations from the Financial Services Royal Commission.
A new independent authority would be created to regularly review and report on the performance of the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission.
The package would make it a criminal offence to use or disclose protected information supplied to the new authority without authorisation.
- Establishes an independently-chaired body to assess the effectiveness and capability of APRA and ASIC.
- Requires APRA and ASIC to cooperate with the new body, including by giving it information and documents it requests.
- Sets out how members and staff are appointed or made available and how decisions are made.
- Makes unauthorised use or disclosure of protected information a criminal offence.
the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission
Sources
em
billhome
frl act