House of Representatives
Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Bill 2007
Corporations (National Guarantee Fund Levies) Amendment Bill 2007
Corporations (National Guarantee Fund Levies) Amendment Act 2007
Explanatory Memorandum
(Circulated by the authority of the Minister for Revenue and Assistant Treasurer, the Hon Peter Dutton MP)Glossary
The following abbreviations and acronyms are used in this explanatory memorandum.
| Abbreviation | Definition |
|---|---|
| AFSL | Australian Financial Services Licence |
| APRA | Australian Prudential Regulation Authority |
| APRA Act | Australian Prudential Regulation Authority Act 1998 |
| ASIC | Australian Securities and Investments Commission |
| ASX | Australian Securities Exchange |
| Authorised insurer | Insurer authorised under section 12 of the Insurance Act 1973 to carry on insurance business in Australia. |
| Corporations Act | Corporations Act 2001 |
| Corporations Regulations | Corporations Regulations 2001 |
| DMFs | Discretionary Mutual Funds |
| DOFIs | Direct Offshore Foreign Insurers |
| FSCODA | Financial Sector (Collection of Data) Act 2001 |
| Insurance Act | Insurance Act 1973 |
| Insurance Regulations | Insurance Regulations 2002 |
| Lloyd's underwriters | Lloyd's underwriters as defined in the Insurance Act 1973 and authorised under section 93 of that Act |
| NGF | National Guarantee Fund |
| NGF Bill | Corporations (National Guarantee Fund Levies) Amendment Bill 2007 |
| Potts review | 2004 Review of Discretionary Mutual Funds and Direct Offshore Foreign Insurers |
| SEGC | Securities Exchanges Guarantee Corporation |