Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

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Summary

Amends the Banking Act 1959, Insurance Act 1973, Life Insurance Act 1995 and five other Acts to give the Australian Prudential Regulation Authority additional powers for crisis resolution and resolution planning in relation to regulated entities, including in relation to: statutory and judicial management; directions powers; transfer powers; conversion and write-off of capital instruments; stay provisions; foreign branches; the Financial Claims Scheme; and wind-up and other matters.

Progress

House of Representatives
Introduced and read a first time 19 Oct 2017
Second reading moved 19 Oct 2017
Second reading debate 12 Feb 2018
Second reading agreed to 12 Feb 2018
Third reading agreed to 12 Feb 2018
Senate
Introduced and read a first time 13 Feb 2018
Second reading moved 13 Feb 2018
Second reading debate 14 Feb 2018
Second reading agreed to 14 Feb 2018
Third reading agreed to 14 Feb 2018
Finally passed both Houses 14 Feb 2018
Assent
  • Act no: 10
  • Year: 2018
05 Mar 2018

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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