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Bills of the current Parliament

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Treasury Laws Amendment (Banking Measures No. 1) Bill 2017


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Banking Act 1959 to: enable the Australian Prudential Regulation Authority (APRA) to makes rules and directions relating to the provision of finance by non-authorised deposit-taking institution lenders which APRA has identified may materially contribute to risks of instability in the Australian financial system; remove restrictions on the use of the term ‘bank’; and insert an objects provision; National Consumer Credit Protection Act 2009 to: require that the suitability of a credit card contract is assessed on the consumer’s ability to repay the credit limit within a certain period; prohibit providers from making unsolicited credit limit offers in relation to credit card contracts and from retrospectively charging interest on credit card balances; and enable consumers to reduce credit card limits and terminate credit card contracts, including by online means; and Financial Sector (Collection of Data) Act 2001, Insurance Act 1973, Life Insurance Act 1995 and National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 to make consequential amendments.

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 19/10/17  
Second reading moved 19/10/17  
Second reading debate 06/02/18  
Referred to Federation Chamber 06/02/18  
Second reading debate 07/02/18  
Second reading agreed to 07/02/18  
Reported from Federation Chamber 07/02/18  
Third reading agreed to 07/02/18  
     
Senate
Introduced and read a first time 08/02/18  
Second reading moved 08/02/18  
Second reading debate 14/02/18  
Second reading debate 15/02/18  
Second reading agreed to 15/02/18  
Third reading agreed to 15/02/18  
     
Finally passed both Houses 15/02/18  
Assent 05/03/18 Act no: 9 - Year: 2018
     

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