Report on the Draft Financial Services Reform Bill

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Report on the Draft Financial Services Reform Bill

August 2000

© Commonwealth of Australia 2000
ISBN 0 642 71095 3

View the report as a single document - (PDF 259KB)

View the report as separate downloadable parts:

Membership of the Committee (PDF 101KB)

Duties of the Committee
 
Chapter 1 - Conduct of the Inquiry (PDF 75KB)
 
Chapter 2 - Background to the Draft Bill (PDF 114KB)

Outline of the Bill
   Objects of Chapter 7 of the Corporations Law
   Key definitions
   Definition of Financial Product
   Licensing of financial products markets
   Licensing of clearing and settlement facilities
   Compensation arrangements
   Licensing of providers of financial services
   Disclosure and other conduct requirements for licensees
   Financial product disclosure
   Title to securities and other matters
 
Chapter 3 - General support for Draft Bill in Submissions (PDF 91KB)

Policy and drafting clarification of aspects of the draft Bill
 
Chapter 4 - Issues arising from the Draft Bill (PDF 115KB)

Introduction
Adverse effects of the draft Bill on the delivery
of financial services in rural and regional areas
The information economy and e-commerce
Australia as an international financial centre
The impact on small business
Co-regulation and the position of professional bodies
Proper recognition of corporate structures and
the definition of retail/wholesale client
 
Chapter 5 - Conclusions and Recommendations (PDF 111KB)

Final Bill should be passed
Adverse effects of the draft Bill on the delivery
of financial services in rural and regional areas
The information economy and e-commerce
Australia as an international financial centre
The impact on small business
Co-regulation and the position of professional bodies
Proper recognition of corporate structures and
the retail/wholesale client definition
Start date of the bill
 
Further Comments - Labor Senators’ and Members’ minority report (PDF 88KB)
 
Appendix 1 - Submissions received by the Committee (PDF 77KB)
 
Appendix 2 - Witnesses at hearings (PDF 75KB)

For further information, contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719
Email: corporations.joint@aph.gov.au