Footnotes

Chapter 1 - Introduction

[1]        Selection of Bills Committee, Report No. 11 of 2007, dated 21 June 2007.

[2]        Explanatory Memorandum (EM), p. 1.

[3]        EM, p. 1.

Chapter 2 - Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Bill 2007

[1]        This section is taken from the Treasury discussion paper, Regulation of Discretionary Mutual Funds and Direct Offshore Foreign Insurers, December 2005, p. 1, viewed on 29 June 2007, at: http://www.treasury.gov.au/documents/1041/PDF/RDMFDOFI_discussion_paper.pdf

[2]        The Potts review reported to the Treasurer on 28 January 2004.

[3]        EM, pp 13-14.

[4]        EM, p. 8.

[5]        EM, p. 59.

[6]        EM, p. 62.

[7]        EM, p. 62.

[8]        EM, p. 8.

[9]        EM, p. 31.

Chapter 3 - Corporations (National Guarantee Fund Levies) Amendment Bill 2007

[1]        Section 889I of the Corporations Act sets $80 million as the minimum amount, but this was altered to $76 million by SEGC determination under subsection 889I(2) on 31 March 2005.

Chapter 4 - Issues

[1]        Australian Financial Markets Association (AFMA), Submission 4, p. 1.

[2]        Australian Securities Exchange, Submission 8, p. 1.

[3]        Underwriting Agencies Council (UAC), Submission 1, p. 3; and Insurance Council of Australia (ICA), Submission 2, p. 1.

[4]        Association of Consulting Engineers Australia (ACEA), Submission 5, p. 3.

[5]        Law Council of Australia, Submission 7, p. 2

[6]        ACEA, Submission 5, p. 3.

[7]        National Insurance Brokers Association (NIBA), Submission 6, p. 3.

[8]        NIBA, Submission 6, p. 4.

[9]        Law Council of Australia, Submission 7, p. 5.

[10]      UAC, Submission 1, p. 3; ICA, Submission 2, pp 1-2.; NIBA, Submission 6, p. 3.

[11]      On 12 September 2003, the Government commissioned the Review of Discretionary Mutual Funds and Direct Offshore Foreign Insurers known as the 'Potts Review'.  http://www.treasurer.gov.au/pcd/content/pressreleases/2007/042.asp accessed 16 July 2007.

[12]      NIBA, Submission 6, p. 6; ACEA, Submission 5, p. 9.

[13]      Treasury, Proof Committee Hansard, 27 July 2007, p. 53.

[14]      Treasury, Proof Committee Hansard, 27 July 2007, pp 53-54.