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Treasury Laws Amendment (2018 Measures No. 2) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Amends the: Corporations Act 2001 and National Consumer Credit Protection Act 2009 to allow regulations to provide for exemptions from the Australian Financial Services Licence and Australian Credit Licence requirements for the purposes of testing financial and credit products and services under certain conditions; Income Tax Assessment Act 1997 to amend the venture capital and early stage investor provisions to ensure that they operate as intended in relation to capital gains tax transactions, managed investment trusts and the early stage investor tax offset; and Income Tax Assessment Act 1936 to amend the definition of public trading trusts. Also provides for an independent review of the operation of the exemptions from the Australian Financial Services Licence and Australian Credit Licence requirements.

Progress

House of Representatives
Introduced and read a first time 04 Jul 2019
Second reading moved 04 Jul 2019
Second reading debate 19 Sep 2019
Second reading debate 15 Oct 2019
Second reading agreed to 15 Oct 2019
Consideration in detail debate 15 Oct 2019
Third reading agreed to 15 Oct 2019
Senate
Introduced and read a first time 17 Oct 2019
Second reading moved 17 Oct 2019
Second reading debate 06 Feb 2020
Second reading debate 10 Feb 2020
Second reading agreed to 10 Feb 2020
Committee of the Whole debate 10 Feb 2020
Third reading agreed to 10 Feb 2020
Finally passed both Houses 10 Feb 2020
Assent
  • Act no: 8
  • Year: 2020
26 Feb 2020

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

House of representatives

Senate

Schedules of amendments

No documents at present

Bills digest

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.