House of Representatives

Treasury Laws Amendment (2017 Measures No. 5) Bill 2017

ASIC Supervisory Cost Recovery Levy Amendment Bill 2017

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Scott Morrison MP)


All references to legislative provisions in this explanatory memorandum are to the Corporations Act, unless otherwise specified.


The members of the CFR are The Treasury, the Reserve Bank of Australia, ASIC and the Australian Prudential Regulation Authority (APRA).


All monetary amount equivalents shown with penalty units in this explanatory memorandum are calculated based on the penalty unit value of $210 at 1 July 2017.


The Australian Crime Commission (ACC) is now known as the Australian Criminal Intelligence Commission (ACIC), as specified in regulations made under the Australian Crime Commission Act 2002 .


Available in August 2017 at the following link: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD415.pdf.


The members of the CFR are The Treasury, the Reserve Bank of Australia, ASIC and the Australian Prudential Regulation Authority (APRA). See Chapter 7 for CFR's final advice to the Government.


Parliamentary Joint Committee on Human Rights, Practice Note 2 : Offence provisions , civil penalties and human rights , December 2014, http://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Human_Rights/Guidance_Notes_and_Resources (last accessed on 15 August 2017).


Human Rights Committee, General Comment No 43 Article 14 : Right to equality before courts and tribunals and to a fair trial , CCPR/C/GC/32, 23 August 2007, [30].


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