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Bills of the current Parliament

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Treasury Laws Amendment (Financial Sector Regulation) Bill 2018


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Financial Sector (Shareholdings) Act 1998 to: increase from 15 per cent to 20 per cent the ownership restriction applying to life insurance and general insurance companies, authorised deposit-taking institutions (ADIs) and relevant holding companies; and create a streamlined path for owners of qualifying domestically incorporated companies with assets less than the relevant threshold applying to become a financial sector company; and Banking Act 1959 to: enable the Australian Prudential Regulation Authority to grant a new entrant to the banking sector a time limited ADI licence; and correct a drafting error.

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 28/06/18  
Second reading moved 28/06/18  
Second reading debate 20/08/18  
Second reading debate 21/08/18  
Second reading agreed to 21/08/18  
Third reading agreed to 21/08/18  
     
Senate
Introduced and read a first time 21/08/18  
Second reading moved 21/08/18  
Second reading debate 15/11/18  
Second reading agreed to 15/11/18  
Third reading agreed to 15/11/18  
     
Finally passed both Houses 15/11/18  
Assent 29/11/18 Act no: 142 - 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