Bill
Financial Services Compensation Scheme of Last Resort Levy (Collection) Bill 2022
lapsed, as at 2023-03-09. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2022-09-08
- second reading — 2022-09-08
- second reading — 2022-09-28
- second reading — 2022-09-28
- third reading — 2022-09-28
- introduced — 2022-10-25
- second reading — 2022-10-25
- other — 2023-03-09
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 2022-09-08.
This bill is part of a package that would create a new system of responsibility for banks, insurers and superannuation funds.
The package would set rules for how senior managers and firms in those industries must behave, with penalties for breaches.
The banking industry would be subject to the regime six months after the main bill starts, while insurance and superannuation would have 18 months.
- Introduce a new accountability regime for banking, insurance and superannuation.
- Set different start dates for different industries.
- Make consequential amendments to support the regime.
Banks, insurers and superannuation funds, and their senior managers.
Sources
em
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