Corporations Amendment (Asia Region Funds Passport) Bill 2018

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

Track (What's this?)

Permalink

Summary

Gives effect to the Australian Government’s commitment, as a signatory to the Memorandum of Cooperation (MOC) on the Establishment and Implementation of the Asia Region Funds Passport (the Passport), to introduce the Asia Region Funds Passport by amending the: Corporations Act 2001 to: incorporate key definitions and the mechanism for incorporating the rules for passport funds into Australian domestic law; specify the processes for Australian and foreign passport funds to offer interests in Australia and for registration of passport funds; specify processes for deregistration of Australian passport funds and de-notification of foreign passport funds; set out requirements in relation to disclosure and financial reporting for foreign passport funds; and provide transitional arrangements for delegations of functions or powers by the minister and certain decisions of ASIC; and Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Australian Securities and Investments Commission Act 2001 and Corporations Act 2001 to make consequential amendments.

Progress

House of Representatives
Introduced and read a first time 28 Mar 2018
Second reading moved 28 Mar 2018
Second reading debate 25 Jun 2018
Second reading agreed to 25 Jun 2018
Consideration in detail debate
  • Amendment details: 4 Government agreed to
25 Jun 2018
Third reading agreed to 25 Jun 2018
Senate
Introduced and read a first time 27 Jun 2018
Second reading moved 27 Jun 2018
Second reading debate 28 Jun 2018
Second reading agreed to 28 Jun 2018
Third reading agreed to 28 Jun 2018
Finally passed both Houses 28 Jun 2018
Assent
  • Act no: 61
  • Year: 2018
29 Jun 2018

Documents and transcripts

Text of bill

Word Format PDF Format HTML Format
Word Format PDF Format HTML Format
Word Format PDF Format HTML Format

Explanatory memoranda

Word Format PDF Format HTML Format
Word Format PDF Format HTML Format
Word Format PDF Format HTML Format

Proposed amendments

House of representatives

Word Format PDF Format HTML Format

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.