Financial Sector Reform (Hayne Royal Commission Response No. 3) Bill 2021
Introduced with the Financial Accountability Regime Bill 2021, Financial Services Compensation Scheme of Last Resort Levy Bill 2021 and Financial Services Compensation Scheme of Last Resort Levy (Collection) Bill 2021, the bill amends: 12 Acts to make amendments consequential on the new financial accountability regime; Australian Prudential Regulation Authority Act 1998 and Banking Act 1959 to make amendments consequential on the end of the banking executive accountability regime; and the Corporations Act 2001, Australian Securities and Investments Commission Act 2001 and National Consumer Credit Protection Act 2009 to establish the financial services compensation scheme of last resort to provide compensation to eligible consumers where the Australian Financial Complaints Authority has made a determination in their favour that remains unpaid.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6803
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