Supplementary Explanatory Memorandum
(Circulated by authority of the Assistant Treasurer and Minister for Financial Services, the Hon Stephen Jones MP)Chapter 2: Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Financial Sector Reform Bill 2022
Overview
2.1 The Parliamentary amendments are 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.
2.2 The amendments facilitate the removal of the CSLR framework from the Bill.
Human rights implications
2.3 The Parliamentary amendments do not engage any of the applicable rights or freedoms.
Conclusion
2.4 The Parliamentary amendments are compatible with human rights as it does not raise any human rights issues.
2.5 The Bill as amended is compatible with human rights as provided for in the Explanatory Memorandum to the Bill.