Financial Sector Legislation Amendment (Enhancing Supervision and Enforcement) Bill 2009

Type: Government
Portfolio: Treasury
Originating house: House of Representatives
Status: Act
Parliament no: 42
Summary: Amends: the
Life Insurance Act 1995
  to establish a prudential regulation regime for non-operating holding companies of life insurance companies to be administered by the Australian Prudential Regulation Authority (APRA); 19 other Acts to make consequential amendments; and the
Banking Act 1959
,
Insurance Act 1973
,
Life Insurance Act 1995
,
Superannuation Industry (Supervision) Act 1993
  and
First Home Saver Accounts Act 2008
  to provide APRA with power to seek court injunctions against breaches of conditions or directions issued under those Acts.

Progress

House of Representatives
19 Mar 2009	Introduced and read a first time
19 Mar 2009	Second reading moved
27 May 2009	Second reading debate
27 May 2009	Second reading agreed to
27 May 2009	Third reading agreed to

Senate
15 Jun 2009	Introduced and read a first time
15 Jun 2009	Second reading moved
13 Aug 2009	Second reading debate
13 Aug 2009	Second reading agreed to
13 Aug 2009	Third reading agreed to

13 Aug 2009	Text of bill as passed both Houses
27 Aug 2009	Assent Act no.: 75 Year: 2009

Documents and transcripts

Text of bill

First reading
As passed by both houses

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest

Notes

Referred to Committee (19/03/2009): Senate Economics Committee
Committee report (07/05/2009)

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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 the 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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