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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
05 Mar 2018
- Act no: 10
- Year: 2018
Documents and transcripts
Text of bill
- First reading
- As passed by both Houses
Explanatory memoranda
- Explanatory memorandum
Transcript of speeches
Proposed amendments
No proposed amendments have been circulated.
Schedules of amendments
No documents at present
Bills digest
- Bills Digest
Notes
- Considered by scrutiny committee (15/11/2017): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 15 of 2017
- Referred to Committee (16/11/2017): Senate Economics Legislation Committee; Committee report (09/02/2018)
- Considered by scrutiny committee (28/11/2017): Parliamentary Joint Committee on Human Rights; Report 1 of 2018
- An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)
