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Bills of previous Parliaments

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Financial System Legislation Amendment (Resilience and Collateral Protection) Bill 2016


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the Payment Systems and Netting Act 1998 to enable financial institutions to comply with internationally-agreed margining requirements when dealing in over-the-counter derivatives; and provide legal certainty about the operation of Australian law in relation to termination rights under certain financial market transactions and approved Real Time Gross Settlement systems, approved netting arrangements and netting markets in all market conditions. Also makes consequential amendments to five Acts.

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 16/03/16  
Second reading moved 16/03/16  
Lapsed at prorogation 15/04/16  
Restored to Notice Paper 02/05/16  
Second reading debate 02/05/16 Bill resumed at point of interruption
Second reading agreed to 02/05/16  
Third reading agreed to 02/05/16  
     
Senate
Introduced and read a first time 03/05/16  
Second reading moved 03/05/16  
Second reading debate 04/05/16  
Second reading agreed to 04/05/16  
Third reading agreed to 04/05/16  
     
Finally passed both Houses 04/05/16  
Assent 04/05/16 Act no: 43 - Year: 2016
     

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)