Corporations Amendment (Future of Financial Advice) Bill 2012

Previous Citations
  • Corporations Amendment (Future of Financial Advice) Bill 2011
Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
43
Summary
Amends the
Corporations Act 2001
to: require financial advisers to provide a fee disclosure statement to a client when charging advice fees for longer than 12 months; require financial advisers to provide a fee disclosure statement and a renewal notice to a client when charging advice fees for longer than 24 months; and extend the Australian Securities and Investments Commission’s licensing and banning powers used to supervise the financial services industry.

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Progress

House of Representatives
Introduced and read a first time 13 Oct 2011
Second reading moved 13 Oct 2011
Second reading debate 19 Mar 2012
Referred to Federation Chamber 21 Mar 2012
Second reading debate 21 Mar 2012
Second reading debate 22 Mar 2012
Reported from Federation Chamber 22 Mar 2012
Second reading agreed to 22 Mar 2012
Consideration in detail debate
  • Amendment details: 18 Government agreed to
22 Mar 2012
Third reading agreed to 22 Mar 2012
Senate
Introduced and read a first time 10 May 2012
Second reading moved 10 May 2012
Second reading debate 19 Jun 2012
Second reading debate 20 Jun 2012
Second reading agreed to 20 Jun 2012
Third reading agreed to
  • : Amendment details: 8 Government agreed to
20 Jun 2012
House of Representatives
Message from Senate reported 20 Jun 2012
Consideration of Senate message
  • Details: House agreed to Senate amendments
25 Jun 2012
Assent
  • Act no.: 67
  • Year: 2012
27 Jun 2012

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

House of representatives

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Senate

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Schedules of amendments

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Bills digest

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Notes

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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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