Senate
Financial Sector Reform Bill 2022
Supplementary Explanatory Memorandum
(Circulated by authority of the Assistant Treasurer and Minister for Financial Services, the Hon Stephen Jones MP)AMENDMENTS TO BE MOVED ON BEHALF OF THE GOVERNMENT
General outline and financial impact
Financial services compensation scheme of last resort - Parliamentary Amendments
Outline
The Parliamentary amendments to the Bill facilitate the removal of the financial services CSLR from the Bill. The policy intention for this change is to enable the Government to consult further on the implementation of the scheme without holding up the other measures in the Bill.
Date of effect
None.
Financial impact
The financial impacts of establishing the CSLR were outlined in the original Explanatory Memorandum to the Bill.
Human rights implications
The Parliamentary amendments do not raise any human rights issues. See Statement of Compatibility with Human Rights - Chapter 2.