Summary
Amends the:
Australian Prudential Regulation Authority Act 1998
and
Financial Institutions Supervisory Levies Collection Act 1998
in relation to financial institutions supervisory levies;
Financial Sector (Transfers of Business) Act 1999
in relation to a transfer of a business;
Insurance Act 1973
in relation to general insurance matters;
General Insurance Reform Act 2001
to correct a drafting error;
Insurance Acquisitions and Takeovers Act 1991
to remove the 30 day time limit for ministerial approval of an application for a merger or acquisition; and make consequential amendments;
Life Insurance Act 1995
to remove sunset clauses on the right to appeal prudential decisions to the Administrative Appeals Tribunal;
Reserve Bank Act 1959
in relation to: superannuation provisions and procedures for Reserve Bank, Reserve Bank Board and Payments System Board appointments, terminations and resignations; and location of the head office;
Superannuation Industry (Supervision) Act 1993
in relation to: winding up procedures for superannuation funds with less than five members; and Australian Taxation Office secrecy provisions; and
Superannuation Supervisory Levy Imposition Act 1998
in relation to the levy payable by a previously unregulated superannuation entity.