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People of Australia’s Commission of Inquiry (Banking and Financial Services) Bill 2017

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

People of Australia’s Commission of Inquiry (Banking and Financial Services) Bill 2017

 

No.      , 2017

 

(Mr Katter)

 

 

 

A Bill for an Act to establish a People of Australia’s Commission of Inquiry into banking and financial services in Australia, and for related purposes

   

   

   



Contents

Part 1—Preliminary                                                                                                              1

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Simplified outline of this Act.............................................................. 2

4............ Definitions.......................................................................................... 2

Part 2—Establishing the People of Australia’s Commission of Inquiry (Banking and Financial Services)                                                                                                                                         5

5............ People of Australia’s Commission of Inquiry (Banking and Financial Services) is established               5

6............ Terms of reference.............................................................................. 6

7............ Report to the Parliament...................................................................... 7

8............ Extending the period within which the Commission may report......... 8

Part 3—Powers of the People of Australia’s Commission of Inquiry (Banking and Financial Services)                                                                                                                                       10

9............ Hearings............................................................................................ 10

10.......... Commission not bound by the rules of evidence............................... 10

11.......... Application of the Royal Commissions Act 1902 .............................. 10

12.......... Application of Commonwealth laws................................................. 11

Part 4—Protecting whistleblowers                                                                             12

13.......... Disclosures qualifying for whistleblower protection......................... 12

14.......... Whistleblower protection for disclosures that qualify....................... 12

15.......... Victimisation of whistleblowers prohibited....................................... 13

16.......... Right to compensation....................................................................... 15

Part 5—Other matters                                                                                                        16

17.......... Staff.................................................................................................. 16

18.......... Authority to disclose information to ASIC and APRA..................... 16

19.......... Legal and financial assistance............................................................ 16

20.......... Regulations....................................................................................... 17

 



A Bill for an Act to establish a People of Australia’s Commission of Inquiry into banking and financial services in Australia, and for related purposes

The Parliament of Australia enacts: