Corporations Amendment (Improving Outcomes for Litigation Funding Participants) Bill 2021

Originating house
House of Representatives
Not Proceeding
Parliament no

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Implements the government's response to the report of the Parliamentary Joint Committee on Corporations and Financial Services' inquiry into litigation funding and the regulation of the class action industry by amending the Corporations Act 2001 to: establish a new kind of managed investment scheme called a class action litigation funding scheme; and introduce additional requirements for the constitutions of managed investment schemes that are class action litigation funding schemes.


House of Representatives
Introduced and read a first time 27 Oct 2021
Second reading moved 27 Oct 2021
Second reading debate 23 Nov 2021
Second reading debate 24 Nov 2021
Second reading agreed to 24 Nov 2021
Consideration in detail debate 24 Nov 2021
Third reading agreed to 24 Nov 2021
Introduced and read a first time 25 Nov 2021
Second reading moved 25 Nov 2021
Lapsed at end of Parliament 25 Jul 2022

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

House of representatives

Schedules of amendments

No documents at present

Bills digest


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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