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Corporations and Other Legislation Amendment (Trustee Companies and Other Measures) Bill 2011


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Corporations (Aboriginal and Torres Strait Islander) Act 2006 and Corporations Act 2001 in relation to: Australian Securities and Investments Commission approved (compulsory and voluntary) transfers of estate assets and liabilities; ‘compulsory’ transfers of business to a public trustee; ministerial approval for listing a trustee company; holding out as a licensed trustee company; the term ‘authorised trustee corporation’; common funds and registered schemes; arm’s length transactions; fee regulation; drawing down of fees from income or capital; and reasonable fees being charged for tax return preparation; and Payment Systems (Regulation) Act 1998 to provide that anything done by a payment system participant when complying with an ATM access regime as determined by the Reserve Bank of Australia is exempt from Part IV of the Competition and Consumer Act 2010.

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 23/02/11  
Second reading moved 23/02/11  
Referred to Main Committee 02/03/11  
Second reading debate 02/03/11  
Second reading agreed to 02/03/11  
Reported from Main Committee 03/03/11  
Third reading agreed to 03/03/11  
     
Senate
Introduced and read a first time 03/03/11  
Second reading moved 03/03/11  
Second reading debate 21/03/11  
Second reading agreed to 21/03/11  
Third reading agreed to 21/03/11  
     
Text of bill as passed both Houses 21/03/11  
Assent 12/04/11 Act no.: 24 - Year: 2011
     

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)