House of Representatives
Treasury Laws Amendment (2016 Measures No. 1) Bill 2016
Explanatory Memorandum
(Circulated by authority of the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP)Index
Schedule 1: Amendment to the Terrorism Insurance Act 2003
| Bill reference | Paragraph number |
| Item 1, subsection 8(2) | 1.10 |
| Item 2 | 1.14 |
Schedule 2: Improving employee share schemes
| Bill reference | Paragraph number |
| Items 1 to 3, section 9, subparagraph 1274(2)(a)(iva) and subsection 1274(2AA) | 2.9 |
| Item 1, section 9 | 2.12, 2.21, 2.22, 2.28, 2.31 |
| Items 2 and 3, subparagraph 1274(2)(a)(iva) and paragraph 1274(2AA)(a) | 2.11 |
| Items 2 and 3, subparagraph 1274(2)(a)(iva) and subsection 1274(2AA) | 2.8 |
| Item 2, paragraph 1274(2)(iva) | 2.34 |
| Item 3, subparagraph 1274(2AA)(b)(i) | 2.17 |
| Item 3, subparagraph 1274(2AA)(b)(i) | 2.18 |
| Item 3, subparagraph 1274(2AA)(b)(ii) | 2.19 |
| Item 3, paragraph 1274(2AA)(c) | 2.22, 2.24, 2.36, 2.37 |
| Item 3, paragraph 1274(2AA)(c) | 2.25 |
| Item 3, subparagraph 1274(2AA)(c)(ii) | 2.26 |
| Item 3, subsection 1274(2AB) | 2.27, 2.32 |
| Item 3, paragraph 1274(2AA)(d) | 2.28 |
| Item 3, paragraphs 1274(2AA)(c) and (d)) | 2.29 |
| Item 3, paragraph 1274(2AA)(e) | 2.30 |
| Item 3, paragraph 1274(2AA)(a) | 2.12 |
| Item 3, paragraph 1274(2AA)(b) | 2.35 |
| Item 4, section 1637 | 2.41 |
Schedule 3: DGR specific listings
| Bill reference | Paragraph number |
| Item 1, item 1.2.20 in the table in subsection 30-20(2) of the ITAA 1997; Schedule 3, item 11 | 3.6 |
| Item 1, item 1.2.21 in the table in subsection 30-20(2) of the ITAA 1997; Schedule 3, item 11 | 3.8 |
| Item 1, item 1.2.22 in the table in subsection 30-20(2) of the ITAA 1997; Schedule 3, item 11 | 3.10 |
| Item 2, item 2.2.44 in the table in subsection 30-25(2) of the ITAA 1997 | 3.12 |
| Item 3, item 3.2.14 in the table in subsection 30-40(2) of the ITAA 1997 | 3.14 |
| Item 4, item 9.2.27 in the table in subsection 30-80(2) of the ITAA 1997 | 3.17 |
| Items 5, 6, 7, 8, 9 and 10, section 30-315 of the ITAA 1997; Schedule 3, item 11 | 3.19 |
| Items 12 and 13, table item 3.2.14 in the table in subsection 30-40(2) of the ITAA1997 and table item 48AAA in the table in section 30-315 of the ITAA 1997; Schedule 3, item 14; Commencement information item 2. | 3.16 |
Schedule 4: Ex-gratia disaster recovery payments to special category visa (subclass 444) holders
| Bill reference | Paragraph number |
| Items 1 and 2, paragraph 160AAA(1)(ab) and subsection 160AAA(2) of the ITAA 1936 | 4.16 |
| Item 2, paragraph 160AAA (2)(b) of the ITAA 1936 | 4.18 |
| Item 3, section 11-15 of the ITAA 1997 | 4.25 |
| Item 4, section 13-1 of the ITAA 1997 | 4.26 |
| Item 5, item 5.2 in the table in section 51-30 of the ITAA 1997 | 4.21, 4.22 |
Schedule 5: Client money
| Bill reference | Paragraph number |
| Item 1, section 761A (definition of 'authorised clearing and settlement facility') | 5.21 |
| Item 1, section 761A (definition of 'derivative retail client money') | 5.27 |
| Item 1, section 761A (definition of 'derivative retail client property') | 5.28 |
| Item 1, section 761A (subparagraph (b)(ii) of the definitions of 'derivative retail client money' and 'derivative retail client property') | 5.29 |
| Items 2 to 4, subsections 981D(2) and 984B(3) and section 981D | 5.20 |
| Item 5, section 1636A | 5.73 |
| Item 6, section 761A (definition of 'client money reporting rules') | 5.40 |
| Items 7 and 9, paragraphs 793B(2)(d) and 822B(2)(c) | 5.69 |
| Items 8 and 10 to 14, note 3 of subsection 793B(2), note 2 of subsection 822B(2), note 3 of subsection 901E(2); note 6 of section 903D, and subsection 981M(2) | 5.68 |
| Item 14, subsection 981J(1) | 5.30 |
| Item 14, subsection 981L(1) | 5.42 |
| Item 14, subsection 981L(2) | 5.43 |
| Item 14, subsection 981L(3) | 5.44 |
| Items 14 and 21, subsection 981M(1) and table item 31A in the table in subsection 1317E(1) | 5.49 |
| Item 14, subsection 981K(3) | 5.50 |
| Item 14, section 981N | 5.53 |
| Item 14, section 981P | 5.64 |
| Item 14, subsection 981K(1) | 5.35 |
| Item 14, subsection 981K(2) | 5.36 |
| Item 14, subsection 981J(2) | 5.38 |
| Item 15, paragraph 1100A(1)(b) | 5.65 |
| Item 16, paragraph 1101B(1)(d) | 5.55 |
| Item 17, paragraph 1101B(4)(b) | 5.56 |
| Item 18, subparagraph 1101B(4)(d)(i) | 5.56 |
| Item 18, subparagraph 1101B(4)(c)(i) | 5.56 |
| Item 19, paragraphs 1317C(gdd) and (gde) | 5.72 |
| Item 20, paragraph (b) of the definition of 'financial services civil penalty provision' in section 1317DA | 5.62 |
| Item 21, table item 31A in the table in subsection 1317E(1) | 5.59 |
| Items 22 to 24, subsection 1317G(1C) (heading), paragraph 1317G(1C)(b) and subsection 1317G(1D) | 5.60 |
| Items 25 and 26, section 1317HB (heading) and paragraph 1317HB(1)(a) | 5.61 |
| Item 27, section 1324B | 5.57 |
| Item 28, subsections 1325(1), (2) and (3) | 5.58 |