Financial Corporations (Transfer of Assets and Liabilities) Amendment Bill 2002

Type: Government
Portfolio: Treasury
Originating house: Senate
Status: Act
Parliament no: 40
Summary: Amends the
Financial Corporations (Transfer of Assets and Liabilities) Act 1993
to extend the sunset clause for foreign banks obtaining a banking authority in order to be eligible for concessional tax treatment when transferring assets and liabilities, to 30 June 2003; and to extend the deadline to effect any subsequent transfer of assets and liabilities from 30 June 2004 to 30 June 2006.

Progress

Senate
12 Mar 2002	Introduced and read a first time
12 Mar 2002	Second reading moved
21 Mar 2002	Second reading agreed to
21 Mar 2002	Third reading agreed to

House of Representatives
15 May 2002	Introduced and read a first time
15 May 2002	Second reading moved
15 May 2002	Second reading agreed to
15 May 2002	Third reading agreed to

30 May 2002

Assent

Act no.: 33

Year: 2002

Documents and transcripts

Text of bill

Explanatory memoranda

No documents at present

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest

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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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