House of Representatives
Financial System Legislation Amendment (Resilience and Collateral Protection) Bill 2016
Explanatory Memorandum
(Circulated by authority of the Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP)Index
Schedule 1: Amendments
| Bill reference | Paragraph number |
| Part 1, item 1, Section 5, 'derivative' of the PSN Act and item 4, section 5, 'foreign exchange contract' of the PSN Act and item 31, after section 14, paragraph 14A(8)(a) of the PSN Act | 1.139 |
| Part 1, item 1, Section 5, 'direction stay provision' definition of the PSN Act | 1.199 |
| Part 1, item 1, Section 5, definition of 'derivative' of the PSN Act and item 4, Section 5, 'financial property' of the PSN Act | 1.117 |
| Part 1, item 1, section 5 of the PSN Act | 1.136 |
| Part 1, item 3, section 5 (definition of external administrator) | 1.183 |
| Part 1, item 4 Section 5, 'give security' definition of the PSN Act and item 12, At the end of Part 1, Section 5A Security given over a person's right to require payment or performance of an obligation of the PSN Act | 1.107 |
| Part 1, item 4, Section 5, 'financial property' and 'intermediated financial property' definitions of the PSN Act | 1.117 |
| Part 1, item 4, Section 5, 'financial property' definition of the PSN Act | 1.118 |
| Part 1, item 5, section 5 (after paragraph (a) of the definition of market netting contract), 'market netting contract' definition of the PSN Act | 1.288 |
| Part 1, item 6, Section 5, 'non-terminal administration' definition of the PSN Act | 1.272 |
| Part 1, item 6, Section 5, 'resolution period' definition of the PSN Act | 1.208 |
| Part 1, item 6, section 5, 'regulated body' definition of the PSN Act | 1.220 |
| Part 1, item 6, Section 5, 'regulated business' definition of the PSN Act | 1.235 |
| Part 1, item 7, section 5 (paragraphs (a) and (b) of the definition of specified provisions) of the PSN Act | 1.164 |
| Part 1, item 8, section 5 (paragraph (d) of the definition of specified provisions) of the PSN Act | 1.164 |
| Part 1, item 8, Section 5 (paragraph (d) of the definition of specified provisions) , paragraph (d) of the definition of 'specified provisions' of the PSN Act, item 9 Section 5 (after paragraph (f) of the definition of specified provisions) of the PSN Act, paragraph (fb) of the definition of 'specified provisions' and item 28 After paragraph 14(2)(f), paragraph 14(2)(fb) of the PSN Act | 1.132 |
| Part 1, item 9, section 5 (after paragraph (f) of the definition of specified provisions), paragraph (fb) of the PSN Act | 1.164 |
| Part 1, item 9, section 5 (after paragraph (f) of the definition of specified provisions), paragraph (fa) of the PSN Act | 1.164 |
| Part 1, item 10, Section 5, 'statutory/judicial management' definition of the PSN Act | 1.195 |
| Part 1, item 10, Section 5, 'specified stay provision' definition of the PSN Act | 1.198 |
| Part 1, item 10, section 5, 'trigger event' definition of the PSN Act | 1.219 |
| Part 1, item 11 Section 5 (definition of voidable), 'voidable' definition of the PSN Act | 1.133 |
| Part 1, item 13, section 6 (heading) of the PSN Act | 1.278 |
| Part 1, item 14, paragraph 6(1)(a) of the PSN Act | 1.277 |
| Part 1, item 15, subsection 6(2) of the PSN Act and item 16, after section 6, subsection 6A(2) of the PSN Act | 1.245 |
| Part 1, item 16, After section 6, section 6A Non terminal administration not to affect transactions of the PSN Act | 1.273 |
| Part 1, item 17, paragraph 10(2)(a) of the PSN Act | 1.281 |
| Part 1, item 18, after paragraph 10(2)(a), paragraph 10(2)(aa) of the PSN Act | 1.279 |
| Part 1, item 19, after paragraph 10(2)(e) (before note 1), paragraph 10(2)(f) of the PSN Act | 1.283 |
| Part 1, item 19 At the end of subsection 10(2) (before note 1), paragraph 10(2)(g) of the PSN Act, item 29 Paragraph 14(2)(g), paragraph 14(2)(h) of the PSN Act and item 34 At the end of subsection 16(2) (before the note), paragraph 16(2)(h) of the PSN Act | 1.124 |
| Part 1, item 20, Subsection 10(2) (note 1) of the PSN Act | 1.285 |
| Part 1, item 21, subsection 10(3) and item 35, subsection 16(3) of the PSN Act | 1.248 |
| Part 1, item 21, subsection 10(3) of the PSN Act | 1.246 |
| Part 1, item 22, Before section 14, Division 1-Effectiveness of close out netting contracts of the PSN Act | 1.108 |
| Part 1, item 23, after paragraph 14(1)(c), paragraph (ca) of the PSN Act, and item 28 After paragraph 14(2)(f), paragraph 14(2)(fa) of the PSN Act | 1.105 |
| Part 1, item 23 After paragraph 14(1)(c), paragraph 14(1)(ca) of the PSN Act, and item 28 After paragraph 14(2)(f), paragraph 14(2)(fa) of the PSN Act | 1.106 |
| Part 1, item 24, paragraph 14(1)(d) of the PSN Act | 1.122 |
| Part 1, item 25, Subparagraph 14(1)(d)(ii) of the PSN Act, item 26, Subparagraph 14(1)(d)(iii) of the PSN Act and item 27, Paragraph 14(2)(d) of the PSN Act | 1.123 |
| Part 1, item 28, after paragraph 14(2)(f), paragraph 14(2)(fa) of the PSN Act | 1.126 |
| Part 1, item 28 After paragraph 12(2)(f), paragraph 14(2)(fb) of the PSN Act | 1.131 |
| Part 1, item 29, paragraph 14(2)(g) of the PSN Act | 1.127 |
| Part 1, item 30, subsections 14(3), (4) and (5), paragraph 14(9)(d) of the PSN Act | 1.256 |
| Part 1, item 30, Subsections 14(3), (4) and (5), subsection 14(5) of the PSN Act | 1.176 |
| Part 1, item 30, paragraphs 14(3)(a) and 14(9)(a) of the PSN Act | 1.210 |
| Part 1, item 30 Subsections 14(3), (4) and (5), Note 2 at the end of subsection 14(3) of the PSN Act and item 32, at the end of Part 4, Division 2 of the PSN Act | 1.211 |
| Part 1, item 30, subsections 14(3), (4) and (5), subsection 14(6) of the PSN Act | 1.177 |
| Part 1, item 30, subsections 14(3), (4) and (5), paragraph 14(9)(c) of the PSN Act | 1.178 |
| Part 1, item 30, subsections 14(3), (4) and (5), subsection 14(3) of the PSN Act | 1.161 |
| Part 1, item 30, subsections 14(3), (4) and (5), paragraph 14(9)(a) of the PSN Act | 1.162 |
| Part 1, item 30, subsections 14(3), (4) and (5), subsection 14(4) of the PSN Act | 1.174 |
| Part 1, item 30, subsections 14(3), (4) and (5), subsection 14(9) of the PSN Act | 1.175 |
| Part 1, item 30, subsections 14(3), (4) and (5), subsection 14(7) of the PSN Act | 1.253 |
| Part 1, item 30, subsections 14(3), (4) and (5), subsection 14(8) of the PSN Act | 1.254, 1.255 |
| Part 1, item 31, after section 14, paragraph 14A(8)(a) of the PSN Act | 1.140 |
| Part 1, item 31, after section 14, paragraph 14A(8)(b) of the PSN Act | 1.141 |
| Part 1, item 31, after section 14, paragraph 14A(1)(b) of the PSN Act | 1.142, 1.143 |
| Part 1, item 31, after section 14, paragraph 14A(1)(b) of the PSN Act | 1.144 |
| Part 1, item 31, after section 14, subsections 14A(2) and (3) of the PSN Act | 1.147 |
| Part 1, item 31, after section 14, subsection 14A(6) of the PSN Act | 1.149 |
| Part 1, item 31, after section 14, subsections 14A(2) and 14A(3) of the PSN Act | 1.150 |
| Part 1, item 31, after section 14, subsection 14A(4) of the PSN Act | 1.152 |
| Part 1, item 31, after section 14, subsection 14A(4) of the PSN Act and item 4, Section 5 of the PSN Act | 1.153 |
| Part 1, item 31, after section 14, subsection 14A(5) of the PSN Act | 1.154 |
| Part 1, item 31, after section 14, subsection 14A(6) of the PSN Act | 1.156 |
| Part 1, item 31, after section 14, subsection 14A(7) of the PSN Act | 1.157 |
| Part 1, item 31, after section 14, paragraph 14A(1)(c) of the PSN Act | 1.158 |
| Part 1, item 31, after section 14, subsection 14A(1) of the PSN Act | 1.134 |
| Part 1, item 31, after section 14, subsection 14A(8) of the PSN Act | 1.136 |
| Part 1, item 31, after section 14, paragraphs 14A(8)(a) and 14A(8)(c) and subsection 14A(9) of the PSN Act | 1.138 |
| Part 1, item 31, after section 14, paragraph 14A(1)(a) of the PSN Act | 1.135 |
| Part 1, item 32, at the end of Part 4, subsections 15A(1) and 15A(2) of the PSN Act | 1.213 |
| Part 1, item 32, at the end of Part 4, subsection 15A(1) of the PSN Act | 1.217 |
| Part 1, item 32, at the end of Part 4, subsection 15A(3) of the PSN Act | 1.221 |
| Part 1, item 32, at the end of Part 4, subsection 15A(4) of the PSN Act | 1.223 |
| Part 1, item 32, at the end of Part 4, note at the end of subsection 15A(4) of the PSN Act | 1.224 |
| Part 1, item 32, at the end of Part 4, subsection 15A(5) of the PSN Act | 1.225 |
| Part 1, item 32, at the end of Part 4, subsection 15A(6) of the PSN Act | 1.226 |
| Part 1, item 32, at the end of Part 4, section 15B of the PSN Act | 1.228 |
| Part 1, item 32, at the end of Part 4, subsections 15B(2), (3) and (4) of the PSN Act | 1.229 |
| Part 1, item 32, at the end of Part 4, subsection 15B(5) of the PSN Act | 1.230 |
| Part 1, item 32, at the end of Part 4, subsections 15C(1) and (2) of the PSN Act | 1.232 |
| Part 1, item 32, at the end of Part 4, subsection 15C(2) of the PSN Act | 1.233 |
| Part 1, item 32, at the end of Part 4, subsection 15A(2) of the PSN Act | 1.218 |
| Part 1, item 32, at the end of Part 4, subsections 15C(3), (4) and (5) of the PSN Act | 1.235 |
| Part 1, item 32, at the end of Part 4, subsection 15C(6) of the PSN Act | 1.238 |
| Part 1, item 32, at the end of Part 4, subsection 15C(7) of the PSN Act | 1.239 |
| Part 1, item 32, at the end of Part 4, subsections 15B(6) and 15C(8) of the PSN Act | 1.241 |
| Part 1, item 33, subparagraph 16(2)(g)(iii) of the PSN Act | 1.290 |
| Part 1, item 35, subsection 16(3) of the PSN Act | 1.247 |
| Part 2, item 36, after paragraph 11CD(1A)(c), paragraph 11CD(1A)(d) of the Banking Act, item 38, at the end of subsections 13N(2) and 14AC(2) of the Banking Act, item 41, at the end of subsection 36AA(2) of the Business Transfer Act, item 43, at the end of subsections 62V(2), 62ZB(2) and 103K(2) of the Insurance Act, item 44, after paragraph 105(1A)(c) of the Insurance Act, item 45, at the end of subsections 165B(2), 168C(2) and 230AJ(2) of the Life Insurance Act, item 46, after paragraph 230C(1A)(c) of the Life Insurance Act and item 47, at the end of subsection 101(2) of the PHI Act | 1.257 |
| Part 2, item 37, subsection 11CD(1A) of the Banking Act and item 39, at the end of subsection 15C(2) of the Banking Act | 1.258 |
| Part 2, item 40, subsection 4(1) of the Business Transfer Act | 1.267 |
| Part 2, item 42, after section 36AA, note after subsection 36AB(1) of the Business Transfer Act | 1.265 |
| Part 2, item 42, after section 36AA, section 36AB of the Business Transfer Act | 1.264 |
| Item 48, application of amendments of the Bill | 1.292 |
| Item 48, application of amendments, subitem (5) of the Bill | 1.296 |