Bill
Financial Accountability Regime 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 accountability system for banks, insurers and superannuation funds.
The system would apply to banking six months after the bill starts, and to insurance and superannuation 18 months after that start.
New entrants to those industries would be covered from the time they become an ADI or non-operating holding company, or from when they become licensed.
- The package would establish a new accountability regime for banking, insurance and superannuation.
- It would set different start dates for banking (six months) and insurance and superannuation (18 months) after the bill commences.
- New industry entrants would be subject to the regime from the time they become an ADI, non-operating holding company or licensed entity.
Banks, insurers and superannuation funds, including new entrants to those industries.
Sources
em
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