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Financial Accountability Regime (Consequential Amendments) Act 2023 (68 of 2023)
- Front Matter
- 1 Short title
- 2 Commencement
- 3 Schedules
- Schedule 1 Consequential amendments
- Part 1 Amendments for the start of the financial accountability regime
- Australian Prudential Regulation Authority Act 1998
- 1 Subsection 3(1) (after paragraph (b) of the definition of prudential regulation framework law)
- 2 Section 48
- 3 At the end of section 48
- 4 Paragraph 53(1)(d)
- 5 Subsection 56(1) (after paragraph (cb) of the definition of protected document)
- 6 Subsection 56(1) (after paragraph (d) of the definition of protected document)
- 7 Subsection 56(1) (after paragraph (cb) of the definition of protected information)
- 8 Subsection 56(1) (after paragraph (d) of the definition of protected information)
- 9 Paragraph 56(2)(c)
- 10 After subsection 56(7F)
- 11 Paragraph 56(12)(a)
- 12 At the end of subsection 58(4)
- 13 After paragraph 59(2)(ba)
- 14 After subsection 59(3)
- Australian Securities and Investments Commission Act 2001
- 15 Subsection 12A(1)
- 16 At the end of subsection 12A(1)
- 17 After subsection 127(6)
- 18 After paragraph 136(1)(da)
- 19 After subsection 136(2A)
- 20 In the appropriate position
- Banking Act 1959
- 21 After subparagraph 9A(2)(b)(ii)
- 22 After subparagraph 11AB(2)(a)(ii)
- 23 Paragraph 15D(1)(a)
- 24 Paragraph 15D(1)(b)
- 25 At the end of subsection 16B(1)
- 26 Subparagraph 16BA(6)(a)(i)
- 27 Section 16C
- 28 Paragraph 17(2)(a)
- 29 After subparagraph 20(1)(a)(ii)
- 30 Section 69BA
- Corporations Act 2001
- 31 After subparagraph 1317AA(5)(c)(iii)
- Financial Regulator Assessment Authority Act 2021
- 32 Subparagraph 40(3)(a)(iv)
- 33 At the end of paragraph 40(3)(a)
- Financial Sector (Transfer and Restructure) Act 1999
- 34 At the end of paragraph 36B(1A)(a)
- Insurance Act 1973
- 35 After subparagraph 15(1)(a)(ii)
- 36 After subparagraph 21(1)(a)(ii)
- 37 After subparagraph 25(1)(a)(ii)
- 38 After paragraph 43(2)(a)
- 39 After subparagraph 44(1)(a)(i)
- 40 Paragraph 44(4)(a)
- 41 After subparagraphs 48(1)(a)(i) and (2)(a)(i)
- 42 At the end of subsection 49(1)
- 43 Subparagraph 49A(6)(a)(iv)
- 44 Section 49B
- 45 After subparagraph 62M(1)(a)(iv)
- 46 Subsection 62W(1)
- 47 Subsection 62ZOY(1)
- 48 Section 129AA
- Life Insurance Act 1995
- 49 Paragraph 21(3)(e)
- 50 After subparagraph 26(1)(a)(ii)
- 51 After subparagraph 28C(1)(a)(ii)
- 52 After paragraph 85(1)(b)
- 53 Paragraph 88(1)(a)
- 54 Subparagraph 88(3)(a)(i)
- 55 Section 88A
- 56 Subsection 88B(1)
- 57 Paragraph 89(2)(a)
- 58 After paragraph 94(1)(b)
- 59 Paragraph 98(1)(a)
- 60 Subparagraph 98(3)(a)(i)
- 61 Section 98A
- 62 Subsection 98B(1)
- 63 Paragraph 99(2)(a)
- 64 Paragraph 125A(2)(c)
- 65 Subsection 166(1)
- 66 Subsection 179AY(1)
- 67 Paragraph 245(1)(a)
- 68 Subsection 248(2)
- National Consumer Credit Protection Act 2009
- 69 Subsection 5(1) (definition of large ADI)
- 70 After subsection 5(1)
- Payment Systems and Netting Act 1998
- 71 Section 5 (after paragraph (b) of the definition of direction stay provision)
- 72 Section 5 (before paragraph (fc) of the definition of specified provisions)
- 73 Section 5 (after paragraph (e) of the definition of specified stay provision)
- Private Health Insurance (Prudential Supervision) Act 2015
- 74 After subsection 21(1)
- 75 Subsections 84(1) and (2)
- 76 After paragraph 107(2)(c)
- 77 Subsection 107(2) (note 2)
- 78 Paragraph 110(1)(a)
- 79 Subparagraph 110(5)(a)(i)
- 80 Subsections 111(1) and 112(1)
- 81 Paragraph 113(2)(a)
- 82 After subparagraph 119(1)(a)(iii)
- 83 After subparagraph 120(4)(b)(iii)
- 84 Subsection 168(1) (after table item 3)
- Superannuation Industry (Supervision) Act 1993
- 85 Subsection 10(1) (after paragraph (c) of the definition of RSE licensee law)
- 86 Section 38A (before paragraph (ab) of the definition of regulatory provision)
- 87 Paragraph 126H(3)(a)
- 88 Subparagraph 129(1)(a)(ii)
- 89 Section 130A
- 90 At the end of paragraph 130D(4)(a)
- 91 Paragraph 131AA(2)(c)
- 92 At the end of paragraph 131A(1)(a)
- 93 Subparagraph 313(1)(a)(ii)
- Part 2 Amendments for the end of the banking executive accountability regime
- Australian Prudential Regulation Authority Act 1998
- 94 Subsection 56(1) (paragraph (cb) of the definition of protected document)
- 95 Subsection 56(1) (paragraph (cb) of the definition of protected information)
- 96 Paragraph 56(2)(c)
- 97 Subsections 56(7D), (7E) and (7F)
- 98 Paragraph 56(12)(a)
- Banking Act 1959
- 99 Paragraph 2A(2)(e)
- 100 Subsection 5(1) (definition of accountable person)
- 101 Subsection 5(1) (paragraph (g) of the definition of direction under this Act)
- 102 Subsection 5(1) (paragraph (h) of the definition of direction under this Act)
- 103 Subsection 5(1)
- 104 Subsection 11AF(1AC)
- 105 Paragraphs 11CG(1)(b) and (2)(a)
- 106 Subsection 11CG(2A)
- 107 Part IIAA
- Schedule 2 Application, saving and transitional provisions
- Part 1 Preliminary
- 1 Definitions
- 2 Section 7 of the Acts Interpretation Act 1901
- 3 Compensation for acquisition of property
- Part 2 Banking sector
- Division 1 Key personnel obligations
- 4 Persons registered under BEAR
- 5 Persons disqualified under BEAR
- 6 Pending applications to register a person under BEAR
- 7 Persons filling a temporary or unforeseen vacancy when FAR starts
- 8 Applications to register under FAR
- 9 Disqualification under FAR for non-compliance with BEAR
- Division 2 Deferred remuneration obligations
- 10 Deferral of variable remuneration continues under BEAR after FAR starts
- 11 Deferral of variable remuneration under FAR
- 12 Deferral of variable remuneration under BEAR - savings provision
- Division 3 Notification obligations
- 13 Accountability statements under BEAR
- 14 Notification obligations under BEAR - savings provision
- Division 4 Regulatory powers and enforcement
- 15 Directions about reallocating responsibilities given under BEAR
- 16 Directions under FAR for non-compliance with BEAR
- 17 Revocation of authority for non-compliance with FAR
- 18 Contraventions under BEAR - savings provision
- 19 Directions under BEAR for non-compliance with BEAR - savings provision
- 20 Review of decisions under BEAR - savings provision
- 21 Enforceable undertakings and injunctions under BEAR - savings provision
- Part 3 Other sectors
- Division 1 Key personnel obligations
- 22 Applications to register under FAR
- Division 2 Deferred remuneration obligations
- 23 Deferral of remuneration under FAR
- Division 3 Insurance
- 24 Revocation of authorisation for non-compliance with FAR
- Division 4 Life insurance
- 25 Application for registration as a life company
- 26 Revocation of registration for non-compliance with FAR
- Division 5 Private health insurance
- 27 Cancellation of registration for non-compliance with FAR
- Division 6 Superannuation
- 28 Cancellation of RSE licence for non-compliance with FAR
- Part 4 APRA and ASIC
- Division 1 Transition from the BEAR
- 29 Doing things under repealed provisions
- 30 Agreement about exercise of powers
- Division 2 Application of the FAR
- 31 Secrecy
- 32 Information to be included in APRA's annual report
- 33 Sharing information and documents between APRA and ASIC
- Part 5 Transitional rules
- 34 Transitional rules
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