Title Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers (2019 Measures)) Bill 2019
Database Bills & Legislation
Long Title a Bill for an Act to amend the law relating to unfair contract terms and insurance contracts, funeral expenses facilities, funeral benefits, mortgage brokers and mortgage intermediaries, and for related purposes
Date 28-11-2019 09:56 AM
Source House of Reps
Parl No. 46
Bill Number 226/19
Bill Type Government
Portfolio Treasury
Reps Bill Code O
Status Act
System Id legislation/bills/r6453_first-reps/0000


Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers (2019 Measures)) Bill 2019
</head> <body lang="EN-AU" xml:lang="EN-AU"> <div class="WordSection1"> <p class="Session">2019</p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="MsoNormal"><span style="font-size:14.0pt">The Parliament of the</span></p> <p class="MsoNormal"><span style="font-size:14.0pt">Commonwealth of Australia</span></p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="House">HOUSE OF REPRESENTATIVES</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="Reading">Presented and read a first time</p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="ShortT">Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers (2019 Measures)) Bill<a name="BK_S1P1L18C32" id="BK_S1P1L18C32"/> 2019</p> <p class="MsoNormal"> </p> <p class="Actno">No.      , 2019</p> <p class="MsoNormal"> </p> <p class="Portfolio">(Treasury)</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="LongT">A Bill for an Act to amend the law relating to unfair contract terms and insurance contracts, funeral expenses facilities, funeral benefits, mortgage brokers and mortgage intermediaries, and for related purposes</p> <p class="MsoHeader"><span class="CharAmSchNo"> </span><span class="CharAmSchText"> </span></p> <p class="MsoHeader"><span class="CharAmPartNo"> </span><span class="CharAmPartText"> </span></p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection2"> <p class="MsoNormal"><span style="font-size:18.0pt">Contents</span></p> <p class="MsoToc5"><a name="BKCheck15B_1" id="BKCheck15B_1"/>1............ Short title............................................................................................. 1</p> <p class="MsoToc5">2............ Commencement................................................................................... 2</p> <p class="MsoToc5">3............ Schedules............................................................................................ 2</p> <p class="MsoToc6">Schedule 1—Unfair contract terms in insurance contracts<span style="font-size:9.0pt;font-weight:normal">                         </span> <span style="font-size:9.0pt;font-weight:normal">3</span></p> <p class="MsoToc9">Australian Securities and Investments Commission Act 2001<span style="font-size:9.0pt;font-style:normal">                           </span> <span style="font-size:9.0pt;font-style:normal">3</span></p> <p class="MsoToc9">Insurance Contracts Act 1984<span style="font-size:9.0pt; font-style:normal">                                                                                 </span> <span style="font-size:9.0pt;font-style:normal">5</span></p> <p class="MsoToc6">Schedule 2—Funeral expenses facilities<span style="font-size:9.0pt;font-weight:normal">                                                                  </span> <span style="font-size:9.0pt;font-weight:normal">7</span></p> <p class="MsoToc9">Australian Securities and Investments Commission Act 2001<span style="font-size:9.0pt;font-style:normal">                           </span> <span style="font-size:9.0pt;font-style:normal">7</span></p> <p class="MsoToc9">Corporations Act 2001<span style="font-size:9.0pt;font-style: normal">                                                                                              </span> <span style="font-size:9.0pt;font-style:normal">7</span></p> <p class="MsoToc6">Schedule 3—Mortgage brokers<span style="font-size:9.0pt; font-weight:normal">                                                                                    </span> <span style="font-size:9.0pt;font-weight:normal">8</span></p> <p class="MsoToc7">Part 1—Main amendments<span style="font-size:9.0pt">                                                                                        </span> <span style="font-size:9.0pt">8</span></p> <p class="MsoToc9">National Consumer Credit Protection Act 2009<span style="font-size:9.0pt;font-style:normal">                                                  </span> <span style="font-size:9.0pt;font-style:normal">8</span></p> <p class="MsoToc9">National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009<span style="font-size:9.0pt;font-style:normal">    </span> <span style="font-size:9.0pt;font-style:normal">17</span></p> <p class="MsoToc7">Part 2—Consequential amendments<span style="font-size: 9.0pt">                                                                   </span> <span style="font-size:9.0pt">19</span></p> <p class="MsoToc9">National Consumer Credit Protection Act 2009<span style="font-size:9.0pt;font-style:normal">                                                </span> <span style="font-size:9.0pt;font-style:normal">19</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection3"> <p class="Page1">A Bill for an Act to amend the law relating to unfair contract terms and insurance contracts, funeral expenses facilities, funeral benefits, mortgage brokers and mortgage intermediaries, and for related purposes</p> <p class="MsoNormal" style="margin-top:12.0pt;line-height:normal"> <span style="font-size:16.0pt">The Parliament of Australia enacts:</span></p> <opc-section depth="0" ref="579f928906d744ef91b22e35070b614c" title="1  Short title"><a name="579f928906d744ef91b22e35070b614c"/><p class="ActHead5"><a name="_Toc25321920"><span class="CharSectno">1</span>  Short title</a></p> <p class="subsection">                    This Act is the <i>Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers (2019 Measures)) Act 2019</i>.</p> </opc-section><opc-section depth="0" ref="98ab7f5aa3fd4d6e8742b5a29cde77ae" title="2  Commencement"><a name="98ab7f5aa3fd4d6e8742b5a29cde77ae"/><p class="ActHead5"><a name="_Toc25321921"><span class="CharSectno">2</span>  Commencement</a></p> <p class="subsection">              (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.</p> <p class="Tabletext"> </p> <table class="MsoNormalTable" border="1" cellspacing="0" cellpadding="0" width="474" style="margin-left:5.35pt;border-collapse:collapse;border:none"> <thead> <tr> <td width="474" colspan="3" valign="top" style="width:355.55pt;border-top:solid windowtext 1.5pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Commencement information</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 1</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.0pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 2</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 3</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Provisions</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.5pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Commencement</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Date/Details</p> </td> </tr> </thead> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day this Act receives the Royal Assent<a name="BK_S3P2L4C7" id="BK_S3P2L4C7"/>.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">2.  Schedule 1</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">5 April 2021.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">5 April 2021</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">3.  Schedules 2 and 3</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day after this Act receives the Royal Assent.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> </table> <p class="notetext"> 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.</p> <p class="subsection">              (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.</p> </opc-section><opc-section depth="0" ref="1cb4598f0ede4e78821b35ad9f5dc191" title="3  Schedules"><a name="1cb4598f0ede4e78821b35ad9f5dc191"/><p class="ActHead5"><a name="_Toc25321922"><span class="CharSectno">3</span>  Schedules</a></p> <p class="subsection">                    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.</p> </opc-section><?DMS-Include seriesId="ece646f0-e515-404c-bee6-75e293e1fea2"?><?DMS-Include seriesId="29033df6-dac4-428f-9030-dcb7658bb408"?><?DMS-Include seriesId="acab899f-a1dc-4ec5-8da5-01baee09aca1"?></div> </body> </div></div></body></html>