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House of Representatives

Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Bill 2007

Corporations (National Guarantee Fund Levies) Amendment Bill 2007

Corporations (National Guarantee Fund Levies) Amendment Act 2007

Explanatory Memorandum

(Circulated by the authority of the Minister for Revenue and Assistant Treasurer, the Hon Peter Dutton MP)

Glossary

The following abbreviations and acronyms are used in this explanatory memorandum.

Abbreviation Definition
AFSL Australian Financial Services Licence
APRA Australian Prudential Regulation Authority
APRA Act Australian Prudential Regulation Authority Act 1998
ASIC Australian Securities and Investments Commission
ASX Australian Securities Exchange
Authorised insurer Insurer authorised under section 12 of the Insurance Act 1973 to carry on insurance business in Australia.
Corporations Act Corporations Act 2001
Corporations Regulations Corporations Regulations 2001
DMFs Discretionary Mutual Funds
DOFIs Direct Offshore Foreign Insurers
FSCODA Financial Sector (Collection of Data) Act 2001
Insurance Act Insurance Act 1973
Insurance Regulations Insurance Regulations 2002
Lloyd's underwriters Lloyd's underwriters as defined in the Insurance Act 1973 and authorised under section 93 of that Act
NGF National Guarantee Fund
NGF Bill Corporations (National Guarantee Fund Levies) Amendment Bill 2007
Potts review 2004 Review of Discretionary Mutual Funds and Direct Offshore Foreign Insurers
SEGC Securities Exchanges Guarantee Corporation


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