Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
44

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Summary

Amends the Corporations Act 2001 to: remove the exemption from the conflicted remuneration ban on benefits paid in relation to certain life risk insurance products; enable the Australian Securities and Investments Commission to permit benefits in relation to life risk insurance products when certain requirements are met; and ban volume based payments in life risk products.

Progress

House of Representatives
Introduced and read a first time 11 Feb 2016
Second reading moved 11 Feb 2016
Second reading debate 03 Mar 2016
Second reading agreed to 03 Mar 2016
Consideration in detail debate 03 Mar 2016
Third reading agreed to 03 Mar 2016
Senate
Introduced and read a first time 16 Mar 2016
Second reading moved 16 Mar 2016
Lapsed at prorogation 17 Apr 2016

Documents and transcripts

Text of bill

Explanatory memoranda

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 changes 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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