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Financial Claims Scheme Disclosure Regulations, Definition of External Support Regulations and Explanatory Statements

Date:

Tuesday, 19 January 2010

Content ID:

1711

Abstract:

On 19 January 2010, the Minister for Financial Services, Superannuation and Corporate Law released exposure drafts of the Corporations Amendment Regulations 2010 and the Banking Amendment Regulations 2010, with explanatory statements for public consultation.

The Corporations Amendment Regulations would require authorised deposit-taking institutions (ADI's) and general insurers to provide information relating to the Financial Claims Scheme (FCS) in Product Disclosure Statements.

The Banking Amendment Regulations would ensure that a statutory manager can be appointed under the Banking Act 1959, notwithstanding the existence of external support arrangements such as the Government's guarantee of deposits.

The Government welcomes submissions regarding the measures contained in the Regulations by close of business Tuesday, 16 February 2010.

Making a submission

Interested parties are invited to comment on the paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Tuesday, 16 February 2010

Address written submissions to:
Manager
Financial System Division
The Treasury
Langton Crescent
PARKES ACT 2600

Email: FCSregs@treasury.gov.au

For enquiries relating to insurance please contact Wain Yuen (02) 6263 3296. For all other enquires please contact Kanwaljit Kaur (02) 6263 3717 or Matthew Capper (02) 6263 2025.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Banking Amendment Regulations 2010  107.97kb
Corporations Amendment Regulations 2010  210.32kb
Definition of External Support Regulations - Explanatory Statement  12.32kb
Financial Claims Scheme Disclosure Regulations - Explanatory Statement  7.99kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Definition of External Support Regulations - Explanatory Statement  11.98kb
Financial Claims Scheme Disclosure Regulations - Explanatory Statement  13.73kb

Related Items:

Submissions: Financial Claims Scheme Disclosure Regulations, Definition of External Support Regulations and Explanatory Statements - 18/02/2010
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