Corporations Amendment (Improving Outcomes for Litigation Funding Participants) Bill 2021

February 2022

© Commonwealth of Australia 2022
ISBN: 978-1-76093-346-3

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Acronyms and abbreviations

Chapter 1—Introduction

  Referral
  The problem
  Background
  Purpose of the bill
  Summary of the new laws
  Compatibility with human rights
  Legislative scrutiny
  Financial implications
  Previous inquiries
  Conduct of the inquiry
  Structure of the report
  Acknowledgements
  References to Hansard

Chapter 2—Views on aspects of the bill

  Introduction
  Returns to litigation funders
  Fettering the court’s consideration of factors in determining returns to funders
  Definition of a class action litigation funding scheme
  Definition of a claim proceed
  Impact on Australia’s open class model
  Suitability of the Managed Investment Scheme regime to regulate class action funders
  Issues raised by the National Farmers’ Federation
  Committee view

Chapter 3—Views on the constitutionality of the bill

  Introduction
  Views on the constitutionality of the bill
  Consideration of the bill’s constitutionality
  Committee view on the constitutionality of the bill

Dissenting Report by Labor Senators

Appendix 1—Submissions and additional information

  Submissions and additional information from the Parliamentary Joint Committee on Corporations and Financial Services

Appendix 2—Public hearings

  Public hearings by the Parliamentary Joint Committee on Corporations and Financial Services

Committee Secretariat contact:

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

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