Corporations Amendment (Financial Advice) Bill 2014

Type
Private
Sponsor(s)
WHISH-WILSON, Sen Peter
Originating house
Senate
Status
Not Proceeding
Parliament no
44

Track (What's this?)

Permalink

Summary

Amends the Corporations Act 2001 to provide that the term ‘advice’ can only be used when financial advice takes account of a client’s personal financial situation by replacing references to ‘general advice’ with references to ‘general information’; and requiring that when ‘general information’ is provided to a client, the client is warned that the information is not advice.

Progress

Senate
Introduced and read a first time 02 Sep 2014
Second reading moved 02 Sep 2014
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.

We acknowledge the traditional owners and custodians of country throughout Australia and acknowledge their continuing connection to land, waters and community. We pay our respects to the people, the cultures and the elders past, present and emerging.

Aboriginal and Torres Strait Islander people are advised that this website may contain images and voices of deceased people.