Provisions of the Financial Sector Legislation Amendment Bill (No. 2) 2002

11 December 2002

View the report as a single document - (PDF 446KB)

View the report as separate downloadable parts:


Membership of the Committee	(PDF 74KB)

Abbreviations and Acronyms	(PDF 67KB)

Chapter 1 - Inquiry into the Provisions of the Financial Sector Legislation Amendment Bill (No. 2) 2002	(PDF 111KB)
Background Purpose of the Bill Reference of the Bill Submissions Hearing and evidence Acknowledgment

Chapter 2 - Background to the fit and proper test	(PDF 144KB)
Introduction Background—The Basel Committee on Banking Supervision Effective banking supervision—Principle 3 Fit and proper test Toward a fit and proper test for Australian ADIs Option 1—Maintain status quo Option 2—A fit and proper regime Option 3—Self-assessment supplemented by legislative power to disqualify unfit persons

Chapter 3 - Provisions of the Bill	(PDF 162KB)
Disqualified persons must not act for ADIs or authorised NOHCs Who is a disqualified person? Definition of senior management APRA may disqualify a person Prudential Standard Removal of a disqualified person and appeal process Notification of appointments Transition Period Duplication of the supervision function Reporting breaches of prudential standards Conclusion

Minority report	(PDF 87KB)

Appendix 1 - List of Public Submissions and Additional Information	(PDF 67KB)

Appendix 2 - Public Hearing and Witnesses	(PDF 67KB)

Appendix 3 - Extract from Prudential Standards and Guidance Notes Applied to General Insurers	(PDF 215KB)

Appendix 4 - Draft Prudential Standards and Guidance Note: Authorised Deposit-Taking Institutions	(PDF 112KB)

Appendix 5 - APRA—Supplementary Submission 4A	(PDF 78KB)

For further information, contact:

Committee Secretary
Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3540

Fax: +61 2 6277 5719

Email: economics.sen@aph.gov.au

Phone:	+61 2 6277 3540
Fax:	+61 2 6277 5719
Email:	economics.sen@aph.gov.au