House of Representatives

Financial Sector Reform (Amendments and Transitional Provisions) Bill (No. 2) 1999

Explanatory Memorandum

(Circulated by authority of the Minister for Financial Services and Regulation, the Honourable J.B. Hockey, MP)

3 - Formal Clauses

Clause 1 - Short title

3.1 The Short Title of the Bill is defined here.

Clause 2 - Commencement

3.2 This clause provides for commencement of the various proposed amendments. More details are provided in the notes on items relating to respective Schedules.

Clause 3 - Schedule(s)

Schedule 1 - Amendment of the Australian Prudential Regulation Authority Act 1998

Schedule 2 - Amendment of the Banking Act 1959

Schedule 3 - Amendment of the Financial Corporations Act 1974

Schedule 4 - Amendment of the Financial Corporations (Transfer of Assets and Liabilities) Act 1993

Schedule 5 - Amendment of the Financial Laws Amendment Act 1997

Schedule 6 - Amendment of the Life Insurance Act 1995

Schedule 7 - Amendment of the Reserve Bank Act 1959

Schedule 8 - Amendment of the Retirement Savings Accounts Act 1997

Schedule 9 - Amendment of superannuation legislation relating to financial assistance of funds

Schedule 10 - Other amendments of the Superannuation Industry (Supervision) Act 1993

Schedule 11 - Miscellaneous minor and technical amendments

Schedule 12 - Transitional, saving and application provisions


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