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Exposure Draft - Financial Sector Legislation Amendment (Close-Out Netting Contracts) Bill 2011

Date:

Friday, 1 July 2011

Content ID:

2076

Abstract:

The Financial Sector Legislation Amendment (Close-out Netting Contracts) Bill 2011 would amend the Banking Act 1959, the Insurance Act 1973, the Life Insurance Act 1995 and the Payment Systems and Netting Act 1998 to address an inconsistency between the Acts related to close-out netting contracts.

The Bill is accompanied by a discussion paper that provides additional information about the inconsistency addressed by the Bill and the proposed solution. Views of interested parties are sought on the proposed approach to resolving the inconsistency outlined in the Bill.

Making a submission

Interested parties are invited to comment on the exposure draft Bill. 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: Monday, 25 July 2011

Address written submissions to:
The General Manager
Financial System Division
The Treasury
Langton Crescent
PARKES ACT 2600
Email: CloseoutNetting@treasury.gov.au.

For enquiries, please call Tracy Richardson on (02) 6263 3847 or Matthew Bowd (02) 6263 2881.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Discussion Paper - Proposed Amendments to the Law on Close-Out Netting  286.47kb
Exposure Draft - Financial Sector Legislation Amendment (Close-Out Netting Contracts) Bill 2011  243.59kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Discussion Paper - Proposed Amendments to the Law on Close-Out Netting  236.11kb
Exposure Draft - Financial Sector Legislation Amendment (Close-Out Netting Contracts) Bill 2011  4,698.34kb

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