As the Senate is not due to sit again until the Budget sittings on 29 and 30 March and with the election expected to be called shortly after, it is now unlikely that the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 (which, amongst other things, removes the responsible lending obligation for banks, building societies and credit unions) will be passed (or even considered) before the election is called.

The House will sit for 4 days from 14 to 17 February before also adjourning to 29 March when it is scheduled to sit for 3 days.

The Financial Accountability Regime Bill 2021 and the Financial Sector Reform (Hayne Royal Commission Response No. 3) Bill 2021 which establishes the Financial Services Compensation Scheme of Last Resort have been introduced into the House but not yet passed.

The Guidance on Caretaker Conventions 2021 provides that Bills that have passed both Houses of Parliament should be assented to by the Governor-General before the dissolution of the House of Representatives.

The Guidelines state that there is at least one instance – involving a Bill passed in the 1930s – where a Bill received assent after dissolution. However, questions have been raised about the constitutional validity of Acts that receive assent in the period between dissolution and the opening of the new Parliament.

Legislation can be proclaimed during the caretaker period. Proclamations which have a commencement date after the date of the election are generally not made, other than in exceptional circumstances.

The Guidelines state that the Executive Council usually meets immediately before the dissolution of the House to approve regulations and ordinances, including those made under Acts just assented to by the Governor-General.

Where there is no infringement of the basic caretaker conventions, the Executive Council may approve regulations and ordinances during the caretaker period. However, meetings are infrequent during the caretaker period and are held only when required and with the agreement of the Governor-General.

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