House of Representatives

Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016

Corporations Amendment (Life Insurance Remuneration Arrangements) Act 2017

Explanatory Memorandum

(Circulated by the authority of the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP)

Index

Schedule 1: Removal of exemption to the ban on conflicted remuneration

Bill reference Paragraph number
Item 1, paragraph 912C(1A)(e) 1.45
Items 2, 3, 5, 7, 10, 12, 14, 15, and 16, the definitions of 'benefit ratio' and 'conflicted remuneration' in section 960, the note to section 963A, subsection 963B(1), subparagraph 963B(1)(c)(i), subsections 963B(5), 963C(1), 963C(3), and 963D(4) 1.47
Item 2 1.48
Items 4, 11 and 13, section 960, subsection 963B(3A), subsections 963BA(1) and (2) 1.32
Item 4, section 960 1.26
Item 6, section 963AA 1.20
Item 8, sub-subparagraph 963B(1)(b)(iii)(A) 1.33
Item 8, sub-subparagraph 963B(1)(b)(iii)(B) 1.25
Item 8, paragraph 963B(1)(b) 1.17
Item 8, paragraph 963B(1)(ba) 1.23
Item 9, paragraph 963B(1)(c) 1.21
Item 11, subsection 963B(3C) 1.28
Item 11, subsection 963B(3B) 1.27
Item 13, subsection 963BA(3) 1.35
Item 13, subsections 963BA(3) and (4) 1.37
Item 13, subsection 963BA(4) 1.41
Item 13, subsection 963BA(2) 1.31
Item 13, subsections 963BA(2) and 963BA(4) 1.24
Item 13, subsection 963BA(1) 1.30
Item 17, section 1549A and subsection 1549B(1) 1.49
Item 17, subsection 1549B(2) 1.50
Item 17, subsection 1549B(3) 1.53

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