Senate

Explanatory Memorandum

(Circulated by authority of the Parliamentary Secretary to Treasurer, Senator the Hon Ian Campbell)

Outline

This Bill makes amendments to Commonwealth legislation that are consequential to the Financial Services Reform Act 2001 . This Bill:

(a)

facilitates implementation of the Government's superannuation and family law reforms; and

(b)

corrects a drafting error in the Corporations Act arising from amendments made to that Act by the Financial Services Reform Act 2001 .

Regulatory impact statement

The Office of Regulation Review has advised that a Regulatory Impact Statement is not required for this Bill.

Financial Impact Statement

This Bill does not have any financial impact.