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House of Representatives

Treasury Laws Amendment (Banking Measures No. 1) Bill 2017

Explanatory Memorandum

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


The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
ADI Authorised Deposit-taking Institution
AFS Australian Financial Services
APRA Australian Prudential Regulation Authority
ASIC Australian Securities and Investments Commission
Banking Act Banking Act 1959
BEAR Banking Executive Accountability Regime
Bill Treasury Laws Amendment (Banking Measures No. 1) Bill 2017
Code National Credit Code
Credit Act National Consumer Credit Protection Act 2009
Credit card provider A licensee that is a credit provider under a credit contract to which Part 3-2B of the Credit Act applies.
Credit Regulations National Consumer Credit Protection Regulations 2010
Crisis Resolution amendments Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017
FCS Financial Claims Scheme
FSCODA Financial Sector (Collection of Data) Act 2001
MMC money market corporations
non-ADI lenders Entities that engage in the provision of finance that are not Authorised Deposit-taking Institutions
RBA Reserve Bank of Australia
RFC Registered Financial Corporations
RIS Regulation Impact Statement

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