- Date
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20 Mar 2013
- Chamber
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House of Representatives
- Status
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Act
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Portfolio
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Treasury
- Summary
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Amends the:
Payments Systems and Netting Act 1998
to provide that client positions and associated collateral of a defaulting participant in a clearing facility may be ported to another solvent participant despite legislative impediments; Corporations Act 2001
to: enable the Australian Securities Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) to determine how often they assess compliance by particular Australian market licence and clearing and settlement facility licence holders with their legal obligations; and make consequential amendments; Australian Securities and Investments Commission Act 2001
to: extend the powers of the Parliamentary Joint Committee on Corporations and Financial Services to inquire into and report on the operation of any foreign business law which may affect the operation of the corporations law; require ASIC to report annually on the use of its information gathering powers and on additional information if required by the minister; and make consequential amendments; Australian Securities and Investments Commission Act 2001
and Mutual Assistance in Business Regulation Act 1992
to authorise ASIC to disclose protected information to international business regulators; Reserve Bank 1959
to enable the RBA to disclose protected information to external persons and bodies; and Carbon Credits (Carbon Farming Initiative) Act 2011
and Clean Energy Regulator Act 2011
to enable the Clean Energy Regulator to share protected information with licensed and prescribed trade repositories.