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Bills of the current Parliament

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Corporations Amendment (Asia Region Funds Passport) Bill 2018


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Gives effect to the Australian Government’s commitment, as a signatory to the Memorandum of Cooperation (MOC) on the Establishment and Implementation of the Asia Region Funds Passport (the Passport), to introduce the Asia Region Funds Passport by amending the: Corporations Act 2001 to: incorporate key definitions and the mechanism for incorporating the rules for passport funds into Australian domestic law; specify the processes for Australian and foreign passport funds to offer interests in Australia and for registration of passport funds; specify processes for deregistration of Australian passport funds and de-notification of foreign passport funds; set out requirements in relation to disclosure and financial reporting for foreign passport funds; and provide transitional arrangements for delegations of functions or powers by the minister and certain decisions of ASIC; and Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Australian Securities and Investments Commission Act 2001 and Corporations Act 2001 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 28/03/18  
Second reading moved 28/03/18  
Second reading debate 25/06/18  
Second reading agreed to 25/06/18  
Consideration in detail debate 25/06/18 Amendment details: 4 Government agreed to
Third reading agreed to 25/06/18  
     
Senate
Introduced and read a first time 27/06/18  
Second reading moved 27/06/18  
Second reading debate 28/06/18  
Second reading agreed to 28/06/18  
Third reading agreed to 28/06/18  
     
Finally passed both Houses 28/06/18  
Assent 29/06/18 Act no: 61 - Year: 2018
     

Text of bill

  • First reading

MS-Word PDF HTML
  • Third reading

MS-Word PDF HTML
  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML
  • Revised explanatory memorandum

MS-Word PDF HTML
  • Supplementary explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Government [sheet KW132]

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes
  • Considered by scrutiny committee (09/05/2018): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 6 of 2018
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)