Legislative timetable: regulatory update April 2019

As Parliament will most likely not resume before a May election, not all proposed changes to financial services and credit regulation have been passed.

Bills that were introduced but not passed by the Parliament before the election is called will lapse.

But some significant Bills were passed in the last days of the Parliament; some have already received Royal Assent and commenced and others are awaiting Royal Assent.

Bills passed
Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2018. Passed both Houses on 3 April with amendments. Royal Assent was given on 5 April.

ASIC’s product intervention powers commenced on 6 April 2019.

Financial product providers’ obligations in respect of design and distribution of financial and credit products will commence on 6 April 2021.

Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2019. Passed both Houses on 4 April and Royal Assent was given on 5 April. Most provisions commenced on 6 April.

Treasury Laws Amendment (Mutual Reforms) Bill 2019. Passed both Houses on 4 April. Royal Assent was given on 5 April. The Act commenced on 6 April.

Australian Business Securitisation Fund Bill 2019. Passed both Houses on 3 April 2019. Received Royal Assent on 5 April. The Act commenced on 6 April.

Lapsed Bills
National Consumer Credit Protection Amendment (Mandatory Comprehensive Credit Reporting) Bill 2018
Treasury Laws Amendment (Consumer Data Right) Bill 2019
Commonwealth Registers Bill 2019
Bankruptcy Amendment (Enterprise Incentives) Bill 2017

Print Friendly, PDF & Email
 

Access our Online Resources

We understand you need a cost-effective way to keep up to date with regulatory changes