Explanatory Memorandum
(Circulated by the authority of the Parliamentary Secretary to the Treasurer, the Hon Bernie Ripoll MP)Chapter 2 - Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights ( Parliamentary Scrutiny ) Act 2011
Corporations Legislation Amendment (Financial Reporting Panel) Bill 2012
2.1 This Bill is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights ( Parliamentary Scrutiny ) Act 2011 .
Overview
2.2 This Bill amends the Australian Securities and Investments Commission Act 2001 , the Corporations Act 2001 and the Corporations ( Fees ) Act 2001 to close the Financial Reporting Panel (FRP) by repealing its functions and powers.
Human rights implications
2.3 This Bill does not engage any of the applicable rights or freedoms.
Conclusion
2.4 This Bill is compatible with human rights as it does not raise any human rights issues.
The Hon Bernie Ripoll MP, Parliamentary Secretary to the Treasurer
| Bill reference | Paragraph number |
|---|---|
| Part 1, item 1, paragraph 1(1)(d) | 1.16 |
| Part 1, item 2, Part 13 | 1.15 |
| Part 1, item 3, section 9, definition of lodging entity | 1.17 |
| Part 1, item 4, Division 9 of Part 2M.3 | 1.18 |
| Part 1, item 5, paragraph 1317C(c) | 1.19 |
| Part 1, item 6, table item 116A of Schedule 3 | 1.20 |
| Part 1, item 7, subsection 4(1), paragraphs (ja) and (jb) of the definition of chargeable matter | 1.21 |
| Part 2, item 8 | 1.22 |