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Bills of the current Parliament

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 Amendment (Life Insurance Remuneration Arrangements) Bill 2016


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the Corporations Act 2001 to: remove the exemption from the conflicted remuneration ban on benefits paid in relation to certain life risk insurance products; enable regulations to prescribe other circumstances where a benefit paid in relation to life insurance is conflicted remuneration even where no advice is provided; enable the Australian Securities and Investments Commission to permit benefits in relation to life risk insurance products when certain requirements are met; and ban volume based payments in life risk products.

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 12/10/16  
Second reading moved 12/10/16  
Second reading debate 28/11/16  
Second reading debate 29/11/16  
Second reading agreed to 29/11/16  
Third reading agreed to 29/11/16  
     
Senate
Introduced and read a first time 30/11/16  
Second reading moved 30/11/16  
Second reading debate 09/02/17  
Second reading agreed to 09/02/17  
Third reading agreed to 09/02/17  
     
Finally passed both Houses 09/02/17  
Assent 22/02/17 Act no: 6 - Year: 2017
     

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
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)