Financial Sector Legislation Amendment (Restructures) Bill 2007

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
41
Summary
Amends the:
Financial Sector (Transfers of Business) Act 1999
  to: facilitate the adoption of a non-operating holding company as the ultimate holding company of a financial group in Australia; and rename it as the
Financial Sector (Business Transfer and Group Restructures) Act 1999
;
Income Tax Assessment Act 1997
  to: remove tax impediments preventing financial groups containing authorised deposit-taking institutions from restructuring; and make consequential amendments to two other Acts. 

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Progress

House of Representatives
24 May 2007Introduced and read a first time
24 May 2007Second reading moved
13 Jun 2007Second reading agreed to
13 Jun 2007Third reading agreed to
Senate
14 Jun 2007Introduced and read a first time
14 Jun 2007Second reading moved
15 Jun 2007Second reading agreed to
15 Jun 2007Third reading agreed to


28 Jun 2007Assent

Act no.: 117

Year: 2007

Documents and transcripts

Text of bill

Word Format PDF Format

Explanatory memoranda

Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

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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 changed to the bill. For details about the outcome of proposed amendments please refer to either theĀ 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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