Explanatory Memorandum(Circulated by the authority of the Treasurer, the Hon Peter Costello, MP)
1.1 The following abbreviations and acronyms are used throughout this explanatory memorandum.
|ADI||Authorised deposit-taking institution|
|APRA||Australian Prudential Regulatory Authority|
|ASIC||Australian Securities and Investments Commission|
|Bill||Financial Sector Legislation Amendment (Restructures) Bill 2007|
|Corporations Act||Corporations Act 2001|
|Court||Means a court with jurisdiction in respect of Chapter 5 of the Corporations Act 2001 , namely the Federal Court or a Supreme Court of a State or Territory|
|FSTBA||Financial Sector (Transfers of Business) Act 1999|
|NOHC||Non-operating holding company|
|NOHC structure||A non-operating holding company is the ultimate holding entity of the group in Australia|
|Operating body||An ADI, general insurer or life insurance company|
|Wallis Review||Financial System Inquiry , March 1997|
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