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The Parliament of the
Commonwealth of Australia
Presented and read a first time
Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Bill 2023
No. , 2023
(Treasury)
Contents
1............ Short title............................................................................................ 1
2............ Commencement.................................................................................. 1
3............ Schedules............................................................................................ 2
Schedule 1—Financial services compensation scheme of last resort 3
Part 1—Main amendments 3
Corporations Act 2001 3
Part 2—Other amendments 28
Australian Securities and Investments Commission Act 2001 28
Corporations Act 2001 28
National Consumer Credit Protection Act 2009 32
A Bill for an Act to establish the financial services compensation scheme of last resort, and for related purposes
The Parliament of Australia enacts:
This Act is the Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Act 2023 .
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provisions |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedule 1 |
At the same time as the Financial Services Compensation Scheme of Last Resort Levy Act 2023 commences. However, the provisions do not commence at all if that Act does not commence. |
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Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.