House of Representatives
Financial Regulator Assessment Authority (Consequential Amendments and Transitional Provisions) Bill 2021
Second Reading Speech
Mr SUKKAR (Deakin - Assistant Treasurer, Minister for Housing and Minister for Homelessness, Social and Community Housing)I move:
That this bill be now read a second time.
This bill facilitates the disclosure of sensitive, confidential and protected information from the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investment Commission (ASIC) to the Financial Regulator Assessment Authority (FRAA).
This information will support the FRAA to carry out its main function of providing effectiveness and capability assessments of APRA and ASIC.
The Legislative and Governance Forum on Corporations was notified in relation to the amendments, as is required under the Corporations Agreement 2002.
Full details of the measure are contained in the explanatory memorandum.
Debate adjourned.