Corporations and Other Legislation Amendment (Trustee Companies and Other Measures) Bill 2011

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
43

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Summary

Amends the: Corporations (Aboriginal and Torres Strait Islander) Act 2006 and Corporations Act 2001 in relation to: Australian Securities and Investments Commission approved (compulsory and voluntary) transfers of estate assets and liabilities; ‘compulsory’ transfers of business to a public trustee; ministerial approval for listing a trustee company; holding out as a licensed trustee company; the term ‘authorised trustee corporation’; common funds and registered schemes; arm’s length transactions; fee regulation; drawing down of fees from income or capital; and reasonable fees being charged for tax return preparation; and Payment Systems (Regulation) Act 1998 to provide that anything done by a payment system participant when complying with an ATM access regime as determined by the Reserve Bank of Australia is exempt from Part IV of the Competition and Consumer Act 2010.

Progress

House of Representatives
Introduced and read a first time 23 Feb 2011
Second reading moved 23 Feb 2011
Referred to Main Committee 02 Mar 2011
Second reading debate 02 Mar 2011
Second reading agreed to 02 Mar 2011
Reported from Main Committee 03 Mar 2011
Third reading agreed to 03 Mar 2011
Senate
Introduced and read a first time 03 Mar 2011
Second reading moved 03 Mar 2011
Second reading debate 21 Mar 2011
Second reading agreed to 21 Mar 2011
Third reading agreed to 21 Mar 2011
Text of bill as passed both Houses 21 Mar 2011
Assent
  • Act no.: 24
  • Year: 2011
12 Apr 2011

Documents and transcripts

Text of bill

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Word Format PDF Format HTML Format

Explanatory memoranda

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Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Notes

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.