Senate
Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Bill 2018
Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Josh Frydenberg MP)This memorandum takes account of amendments made by the House of Representatives to the bill as introduced.
Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
| AFSL | Australian Financial Services Licence. |
| ASIC | Australian Securities and Investments Commission. |
| ASIC Act | Australian Securities and Investments Commission Act 2001. |
| Bill | Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Bill 2018. |
| Corporations Act | Corporations Act 2001. |
| Credit Act | National Consumer Credit Protection Act 2009. |
| Credit Code | Schedule 1 to the National Consumer Credit Protection Act 2009. |
| Criminal Code | The Schedule to the Criminal Code Act 1995. |
| the Guide | The Attorney-General's Department's A Guide to Framing Commonwealth Offences, Infringement Notices and Enforcement Powers, September 2011 edition. |
| ICCPR | International Covenant on Civil and Political Rights. |
| Insurance Contracts Act | Insurance Contracts Act 1984. |
| Regulatory Powers Act | Regulatory Powers (Standard Provisions) Act 2014. |
| the Taskforce | The ASIC Enforcement Review Taskforce. |