Senate

Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Bill 2018

Revised Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Josh Frydenberg MP)
This memorandum takes account of amendments made by the House of Representatives to the bill as introduced.

Glossary

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

Abbreviation Definition
AFSL Australian Financial Services Licence.
ASIC Australian Securities and Investments Commission.
ASIC Act Australian Securities and Investments Commission Act 2001.
Bill Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Bill 2018.
Corporations Act Corporations Act 2001.
Credit Act National Consumer Credit Protection Act 2009.
Credit Code Schedule 1 to the National Consumer Credit Protection Act 2009.
Criminal Code The Schedule to the Criminal Code Act 1995.
the Guide The Attorney-General's Department's A Guide to Framing Commonwealth Offences, Infringement Notices and Enforcement Powers, September 2011 edition.
ICCPR International Covenant on Civil and Political Rights.
Insurance Contracts Act Insurance Contracts Act 1984.
Regulatory Powers Act Regulatory Powers (Standard Provisions) Act 2014.
the Taskforce The ASIC Enforcement Review Taskforce.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).