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Bills of previous Parliaments

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Corporations and Financial Sector Legislation Amendment Bill 2013


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Payments Systems and Netting Act 1998 to provide that client positions and associated collateral of a defaulting participant in a clearing facility may be ported to another solvent participant despite legislative impediments; Corporations Act 2001 to: enable the Australian Securities Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) to determine how often they assess compliance by particular Australian market licence and clearing and settlement facility licence holders with their legal obligations; and make consequential amendments; Australian Securities and Investments Commission Act 2001 to: extend the powers of the Parliamentary Joint Committee on Corporations and Financial Services to inquire into and report on the operation of any foreign business law which may affect the operation of the corporations law; require ASIC to report annually on the use of its information gathering powers and on additional information if required by the minister; and make consequential amendments; Australian Securities and Investments Commission Act 2001 and Mutual Assistance in Business Regulation Act 1992 to authorise ASIC to disclose protected information to international business regulators; Reserve Bank 1959 to enable the RBA to disclose protected information to external persons and bodies; and Carbon Credits (Carbon Farming Initiative) Act 2011 and Clean Energy Regulator Act 2011 to enable the Clean Energy Regulator to share protected information with licensed and prescribed trade repositories.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 20/03/13  
Second reading moved 20/03/13  
Referred to Federation Chamber 28/05/13  
Second reading debate 28/05/13  
Second reading agreed to 28/05/13  
Reported from Federation Chamber 28/05/13  
Third reading agreed to 28/05/13  
     
Senate
Introduced and read a first time 17/06/13  
Second reading moved 17/06/13  
Second reading debate 20/06/13  
Second reading agreed to 20/06/13  
Third reading agreed to 20/06/13  
     
Text of bill as passed both Houses 20/06/13  
Assent 21/06/13 Act no.: 59 - Year: 2013
     

Text of bill

  • First reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes
  • Referred to Committee (21/03/2013): Joint Committee on Corporations and Financial Services; Committee report (15/05/2013)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )