Supplementary Explanatory Memorandum
(Circulated by authority of the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP)General outline and financial impact
Amendments to the Treasury Laws Amendment (Putting Consumers First-Establishment of the Australian Financial Complaints Authority) Bill 2017
The amendments to the Treasury Laws Amendment (Putting Consumers First-Establishment of the Australian Financial Complaints Authority) Bill 2017 provide additional certainty and clarity around aspects of AFCA's operations to ensure that it operates as effectively as possible.
Date of effect: The amendments apply from the day after the Treasury Laws Amendment (Putting Consumers First-Establishment of the Australian Financial Complaints Authority) Bill 2017 receives the Royal Assent.
Proposal announced: The amendments have not previously been announced.
Financial impact: The amendments do not alter the financial impact outlined in the explanatory memorandum to the Bill.
Compliance cost impact: The amendments have no additional compliance cost impact.