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Exposure Draft - Corporations and Other Legislation Amendment (Trustee Companies and Other Measures) Bill 2011


Monday, 31 January 2011

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The Assistant Treasurer and Minister for Financial Services and Superannuation has released for public comment a draft Bill and explanatory material for the Corporations and Other Legislation Amendment (Trustee Companies and Other Measures) Bill 2011 in relation to trustee companies.

The draft Bill relates to Chapter 5D of the Corporations Act 2001 which was established through the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009.

The amendments include: the establishment of a mechanism for the voluntary transfer of trustee company business from an existing entity to a licensed trustee company; and changes to the operation of common funds and the drawing down, and imposition, of fees.

The draft Bill is available for public comment for a two week period.

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: Thursday, 10 February 2011

Address written submissions to:
Governance and Insolvency Unit
Corporations and Financial Services Division
The Treasury
Langton Crescent

Email: trusteecompanies@treasury.gov.au

For enquiries, please call Timothy Beale (02) 6263 2870.

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Exposure Draft  42.79kb
Explanatory Memorandum  69.22kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Exposure Draft  9,441.33kb
Explanatory Memorandum  369.14kb

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